HONG KONG, March 15 (Reuters) - Hong Kong Internet company
e-New Media Co Ltd 0128.HK said on Wednesday it had acquired 10
percent of Japanese amplifier maker Lux Corp by buying three
million shares at 260 yen each.
Anthony Shang, executive vice president-Internet services at
e-Media Co unit e-New Media Technology Ltd, told reporters the
investment might help the Hong Kong group's e-commerce business.
He said Lux, a 75-year-old firm, intended to develop Internet
operations and planned to launch a music website, which could use
e-New Media's digital transactions solutions.
"We think our...online payment technology, can match its
music project," he said. "And maybe in the near future, we can
launch joint projects.."
E-New Media Co said earlier on Wednesday it had formed a
partnership with U.S.-based Brilliant Digital Entertainment Inc
BDE.A, and had bought a five percent stake in Brilliant for
US$4 million at US$6 for each common share.
It will also receive 307,692 warrants to buy common stock at
$6.50 each, allowing it to increase its stake to seven percent.
E-New will pay US$2.5 million and royalties for a six-year
licence to distribute selected Brilliant content in Japan, China,
Hong Kong, Singapore, Taiwan, South Korea, Malaysia, Indonesia,
the Philippines, Thailand, Vietnam and Sri Lanka.
Both companies also have a short term option to form a 50/50
percent joint venture to create content "using Brilliant's B3D
Studio tool suite in Asia."
"Brilliant, at the moment, in the States, is talking to a
major Hollywood studio about adapting its existing animation
library into an English as a foreign language business level
product," e-New Media spokesman Edward Milward-Oliver told a news
conference.
He gave no further details.
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