On December 11th, China Literature Limited announced the acquisition of Tencent Animation and Comics’ related business and IP assets for 600 million yuan (approximatly ＄84 million), including the Tencent Animation and Comics App platform, intellectual property rights of works, animation and film projects, etc. After the acquisition is completed, China Literature will integrate top-tier IPs and mature animation production capacity from Tencent Animation and Comics to enhance IP operation efficiency and further expand and upgrade China Literature‘s IP ecosystem.
The CEO of China Literature Limited stated that this transaction will enrich China Literature‘s upstream top-tier IP reserves, enhance cooperation in novel-to-animation adaptations, accelerate the process of visualizing textual IPs, and become one of the driving forces for future growth.
Established in 2012, Tencent Animation and Comics is a leading comprehensive anime platform in China that has cultivated high-quality creators and a user ecosystem while incubating multiple top-tier IPs such as “The Outcast” and “Fox Spirit Matchmaker.” After the completion of the acquisition, China Literature‘s animation production capacity will significantly increase to further consolidate its position as a dual pipeline combining online literature with animation.
SEE ALSO: Tencent-Backed Digital Content Firm China Literature Publishes Financial Report, Showing Rebound from Rocky 2020
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