Maoyan Entertainment, a platform providing internet-empowered entertainment services in China, agreed to acquire an 8.11% stake in Huanxi Media Group, a media company in China, focusing on investment and production of films, drama series, and operation of a subscription-based OTT platform for $50m. “Partnerships with leading media and entertainment content providers like Huanxi Media help Maoyan build long-term mutually beneficial relationships with top artists and content creators in China. We will leverage Maoyan’s advantage as a one-stop comprehensive entertainment services platform to cooperate with artists and creators and support them to produce more high-quality content to meet the growing needs in China," Zheng Zhihao Maoyan Entertainment CEO.