Digital Domain and Le Sports to launch joint venture

The Hong Kong-based Digital Domain Holdings Limited (DDHL) announced yesterday that it would launch a joint venture with Le Sports, a subsidiary of online video company LeTV.

According to their partnership deal, the two sides will seek co-operation on DDHL’s 360-degree virtual reality (VR) livestream. They will work together on the promotion, production, broadcasting, publishing and distribution of the VR technology. This deal will enable DDHL to develop its live broadcast technology during sports tournaments and other events in China. 

If DDHL decides to sell related hardware in the future, the joint venture will have priority over the distributorship in China. Each side will acquire 50% of the shares in the venture at US$ 5 million, as reported by the Hong Kong media, Finet. 

DDHL is an Investment Holding Company established in 1992 with its headquarters in Hong Kong, and is listed on the Main Board of The Stock Exchange of Hong Kong Limited.

Source:Finet

Proofread by John Devlin