Frankfurt, 30th August: Last month, China South Publishing & Media Group (CNS), a leading publishing and media group in China, announced that the company had bought a minority stake in IPR License, a global rights and licensing trading platform. Financial details of the transactions were not disclosed.
After the transaction, CNS will also hold a minority stake in the Copyright Clearance Center (CCC). CNS plans to officially introduce the IPR platform to China in order to fill gaps in China’s online licensing market. CNS also aims to bring Chinese publishers and their properties to the global market.
CNS, founded in 2008, has business interests in publishing, printing, distribution, newspapers, television stations and networks. According to the company, it is the leading publisher in China in terms of market value and profits. In 2016, CNS generated revenues of US$1.7 billion and posted a profit of US$297 million.
Source: CNS press release