Corporate-backed online ticketing service Weiying is set to merge several of its assets with peer Maoyan, which is majority owned by Enlight Media.
China-based ticketing app operator Maoyan is set to acquire the ticketing service of its local peer Weiying Technology, which is backed by corporates including internet company Tencent, China Money Network reported today.
Weying will transfer some its assets, valued at RMB7bn ($1.06bn) to Maoyan in two to three tranches, beginning with its online film and theatre ticketing units, which are valued at RMB4bn.
Weying will retain its content creation, film distribution, intellectual property derivatives products, equity investments and sports event…
