Monday, March 07, 2005

Clear Channel brings Monster Trucking to China.

Media:You can't stop Clear Channel, and you can't contain them.

" Live entertainment producer Clear Channel Entertainment said Monday it entered into a joint venture with the Chinese government designed to bring concerts and sporting events from the West to China. The new company, dubbed Gehua Clear Channel Entertainment & Sports Co. Ltd., will have a 50-year right of first refusal on arranging and promoting live shows and managing everything from artists and ticketing to tour merchandising, the company said. Clear Channel and the state-owned Beijing Gehua Cultural Development Group, which controls some of China's largest venues and organizes cultural and sporting events, did not disclose how much cash each invested in the new venture. Each partner will own 50 percent of the venture and will split profits equally, Ed Cunningham, CEO of Clear Channel Entertainment China, said following a news conference in New York. "....One staple of U.S. entertainment that Chinese officials have expressed interest in importing: monster trucking. "It's done well in Europe. It's obviously been a success in the United States, Cunningham said. "It's never been in China, but there's a lot of excitement."

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