China Literature Group: plans to acquire Tencent Animation and Comic-related App platform assets, animation and film and television projects with 600 million yuan.

Thank you, Mr. Air, a netizen of CTOnews.com, for your clue delivery! According to CTOnews.com news on December 11, China Literature Group announced that he would buy Tencent Animation and Comic's 90% stake in Tencent Animation and Comic's App platform assets, animation projects, film and television projects and Mi Orange for 600 million yuan.

CTOnews.com note: Rice Orange is mainly engaged in animation production, which is 90% and 10% owned by Guangxi Tencent and an independent third party respectively.

It is understood that Tencent Animation and Comic's App platform assets include Tencent Animation and Comic's works published on the App platform or those that have obtained intellectual property rights or legal licenses, including but not limited to animation, animated cartoons, novels and their constituent elements; and other assets and elements related to Tencent Animation and Comic's App operation, including but not limited to App clients and Mini Program, social media accounts, computer software copyright, domain names, trademarks, data, and so on.

Through this acquisition, Tencent Animation and Comic's IP will join China Literature's content ecology. China Literature is also Tencent Animation and Comic's largest content provider, with about 50 per cent of Tencent Animation and Comic's top 30 best-selling cartoons adapted from China Literature's literary works.

This acquisition is expected to accelerate the visualization of China Literature's online literary works, and plans to use AI to improve the animation adaptation rate of literary works in the future.