BEIJING, Aug. 24, 2021 /PRNewswire/ -- Phoenix New Media
Limited ("Phoenix New Media," "ifeng" or the "Company") (NYSE:
FENG), a leading new media company in China, today announced that it has, through
one of its affiliated consolidated entities (the "Licensee"),
entered into a new program resource license and cooperation
agreement (the "2021 Program License Agreement") with a subsidiary
of its parent company, Phoenix Satellite Television Holdings
Limited ("Phoenix TV"), and terminate the existing program resource
license and cooperation agreement between the parties entered into
on January 15, 2020.
According to the 2021 Program License Agreement, Phoenix TV
grants the Licensee exclusive right to broadcast copyrighted video
content and the derived audio content from three television
channels of Phoenix TV and its subsidiaries on the internet in
Mainland China with such content also broadcasted on the three
television channels of Phoenix TV and its subsidiaries. Phoenix TV
also grants the Licensee the right to sublicense such contents. The
annual fees payable to Phoenix TV by the Company for such content
licenses will be RMB45.0 million and the 2021 Program License
Agreement has a term of three years.
About Phoenix New Media Limited
Phoenix New Media Limited (NYSE: FENG) is a leading new media
company providing premium content on an integrated Internet
platform, including PC and mobile, in China. Having originated from a leading global
Chinese language TV network based in Hong
Kong, Phoenix TV, the Company enables consumers to access
professional news and other quality information and share
user-generated content on the Internet through their PCs and mobile
devices. Phoenix New Media's platform includes its PC channel,
consisting of ifeng.com website, which comprises interest-based
verticals and interactive services; its mobile channel, consisting
of mobile news applications, mobile video application and mobile
Internet website; and its operations with the telecom operators
that provides mobile value-added services.
Safe Harbor Statement
This announcement contains forward−looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward−looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates" and similar statements. Among other things,
the business outlook and quotations from management in this
announcement, as well as Phoenix New Media's strategic and
operational plans, contain forward−looking statements. Phoenix New
Media may also make written or oral forward−looking statements in
its periodic reports to the U.S. Securities and Exchange Commission
("SEC") on Forms 20-F and 6-K, in its annual report to
shareholders, in press releases and other written materials and in
oral statements made by its officers, directors or employees to
third parties. Statements that are not historical facts, including
statements about Phoenix New Media's beliefs and expectations, are
forward−looking statements. Forward−looking statements involve
inherent risks and uncertainties. A number of factors could cause
actual results to differ materially from those contained in any
forward−looking statement, including but not limited to the
following: the Company's goals and strategies; the Company's future
business development, financial condition and results of
operations; the expected growth of online and mobile advertising,
online video and mobile paid services markets in China; the Company's reliance on online and
mobile advertising and MVAS for a majority of its total revenues;
the Company's expectations regarding demand for and market
acceptance of its services; the Company's expectations regarding
maintaining and strengthening its relationships with advertisers,
partners and customers; the Company's investment plans and
strategies, fluctuations in the Company's quarterly operating
results; the Company's plans to enhance its user experience,
infrastructure and services offerings; the Company's reliance on
mobile operators in China to
provide most of its MVAS; changes by mobile operators in
China to their policies for MVAS;
competition in its industry in China; relevant government policies and
regulations relating to the Company; and the effects of the
COVID-19 on the economy in China
in general and on the Company's business in particular. Further
information regarding these and other risks is included in the
Company's filings with the SEC, including its registration
statement on Form F-1, as amended, and its annual reports on Form
20-F. All information provided in this press release and in the
attachments is as of the date of this press release, and Phoenix
New Media does not undertake any obligation to update any
forward−looking statement, except as required under applicable
law.
For investor and media inquiries please contact:
Phoenix New Media Limited
Qing Liu
Email: investorrelations@ifeng.com
ICR, Inc.
Robin Yang
Tel: +1 (646) 405-4883
Email: investorrelations@ifeng.com
View original
content:https://www.prnewswire.com/news-releases/phoenix-new-media-announces-new-program-license-agreement-with-phoenix-tv-301361397.html
SOURCE Phoenix New Media Limited