Tenjin Entertainment's 2018 net profit pre-loss was 7.8 billion yuan, and a goodwill impairment provision of 4.9 billion yuan was made
On January 30, Tianshen Entertainment issued an announcement that it had significantly revised down its performance expectations and expected a net loss of 7.3 billion yuan to 7.8 billion yuan in 2018. Previously, Tianshen Entertainment released the "Third Quarter Report of 2018" on October 29, 2018, when the company's expected operating performance for 2018 was: The net profit attributable to shareholders of listed companies in 2018 ranged from 0 yuan to 509.8381 million yuan, down 50% to 100% year-on-year.
The announcement also mentioned that as of the third quarter of 2018, the company had a goodwill amount of about 6.535 billion yuan, because there is still uncertainty about whether there is an impairment at present, and it is impossible to determine the amount and proportion of impairment, so the performance forecast has not yet considered the impact of the goodwill impairment factor, but the company may still have a large amount of goodwill impairment in 2018 and lead to the risk of loss in the company's 2018 annual performance.
Tianshen Entertainment closed down 1.25% on January 30, closing at 4.73 yuan.
New regulations of the General Administration: Program production institutions that view counterfeiting, vulgarity and vulgarity will not be issued new licenses
On January 29, the State Administration of Radio, Film and Television issued the Notice of the General Office of the State Administration of Radio, Film and Television on Doing a Good Job in 2019 and Renewing Certificates. The circular shows that programs that produce and operate with content deviations, vulgarity, widespread bad reviews in society, and have a negative social impact; programs that contain overseas funds or personnel; those that participate in illegal sales of ratings or participate in ratings fraud; and institutions that hold "Radio and Television Program Production and Operation Licenses" that fail to standardize and pay taxes in a timely manner in accordance with requirements will not be renewed and their program production and operation licenses will be revoked.
For institutions that reissue the "TV Drama Production License (Type A)", the notice indicates that the license-holding institution needs to produce more than 6 single dramas or more than 3 series (more than 3 episodes each) in 2017 and 2018, and there are no violations. For licensed institutions with outstanding social benefits and excellent performance of social responsibilities, the performance requirements for tv drama production may be relaxed as appropriate. If the production performance of a television drama within two years is zero, or the social evaluation of existing works is average and the performance is not up to standard, or the license holder of the "Television Drama Production License (Type A)" violates the relevant provisions of Documents 60 and 153, a new license will not be issued.
For institutions applying for a "Television Drama Production License (Type A)", they must complete the production of more than 6 single dramas or 3 or more serial dramas in 2017 and 2018, each with more than 3 episodes, without violations, and the provincial radio and television administrative departments may initially approve and submit the relevant application materials to the General Administration for review as required. Among them, the production performance of TV dramas is mainly based on the "TV Series Distribution License" applied for by the TV drama production agency as the identification standard, and is counted as the production performance of the "reporting agency" specified in the "TV Drama Distribution License".
According to the Beijing Business Daily, in this renewal work, the issuing authority of the "Radio and Television Program Production and Business License" will be uniformly changed to the State Administration of Radio and Television or the provincial radio and television administrative departments, and the issuing authority of the "Tv Drama Production License (Type A)" will be uniformly changed to the State Administration of Radio and Television, and the validity period of the above licenses will be uniformly adjusted to April 1, 2019 to March 31, 2021.
Music streaming pandora announced its acquisition by Siriusxm
On Jan. 29, music streaming service Pandora announced that it would be acquired by satellite broadcaster Siriusxm for $3.5 billion, Variety reported.
Upon completion of the deal, several of Pandora's key executives will leave, including CEO Roger Lynch, general counsel Steve Bene, chief financial officer Naveen Chopra and chief human resources officer Kristen Robinson.
Sirius xm was formed in 2008 by the merger of Sirius satellite radio, inc. and xm satellite radio holding, inc., which provides music, sports, entertainment, comedy, talk, news, transportation, weather and other channels and infotainment services in North America through two proprietary satellite broadcasting systems. Upon completion of the acquisition, its total market capitalization will exceed $30 billion, approaching spotify, a music streaming service company that went public in April 2018.
Pandora's predecessor was Sage Beast Technologies, founded in 2000, which mainly provides music streaming services and recommends similar songs based on user habits. Since August 1, 2017, Pandora has shrunk its operations to provide services only in the United States, and the company's development is in a difficult situation. Rumors of a $3.5 billion sale came out in September 2018, and Pandora's stock price rose more than 9 percent after the news was announced, closing at nearly $10.
Tencent Music Entertainment Group has reached a cooperation with SM Entertainment
On January 30, Tencent Music Entertainment Group announced the establishment of a strategic partnership with SM Entertainment. From February 1, Tencent Music's qq music, kugou music, and kuwo music can enable sm entertainment sources. sm Entertainment said that it will continue to focus on music promotion and distribution in the Chinese market.
Sam Entertainment Co., Ltd. (s.m.entertainment) is a large-scale artist planning and agency company in South Korea, founded in 1989 by singer Lee So-man. Its name "sm" is an abbreviation of the English "star museum". As of 2016, its representative artists include boa, oriental shenqi, super junior, girls' generation, shinee, f(x), exo, red velvet, nct and so on.
American r&b singer James Ingrand died of brain cancer at the age of 66
On January 30, according to the BBC, the famous American R&B male singer James Ingram died of brain cancer complications at the age of 66. He has been nominated for 13 Grammy Awards, including Grammy Awards for his songs "Yah Mo B There" and "100 Ways". His friend Debbie Allen announced the death on a Twitter page, saying she was "lucky to be so close to him."
James Ingrand sang a number of hits in the '80s, including "Baby Come to Me" with female singer Patti Austin, "Just Once" by Quincy Jones, and "Somewhere Out There" with female singer Linda Ronstadt in the animated "An American Tail". Over the years, he has collaborated with Quincy Jones on several occasions, including co-authoring the late music superstar Michael Jackson's famous song "P.Y.T." (pretty young thing) (the sixth single from Michael Jackson's album Thriller).