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Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: China TV, IMG to stage China Open tennis AP - Wednesday, May 27 BEIJING - Chinese state TV and IMG, the U.S. sports marketing firm, said Tuesday they will launch a joint venture to promote sports events by organizing the next China Open tennis tournament in October. ADVERTISEMENT Releasing the first details of a 20-year agreement unveiled last July to promote and televise sports, IMG and China Central Television said other events will include U.S. major league football and baseball, polo, skating and martial arts. The venture gives IMG a foothold in China's booming sports market, while gaining CCTV access to foreign skills and experience at promotion and marketing. "Our ultimate goal is to bring the world's best sporting events and management to China, and to bring China's best sports and sports culture to the rest of the world," IMG's chairman and CEO, Ted Forstmann, said at a news conference. This year's China Open, Asia's top tennis tournament, will move to the Olympic tennis center built for last year's Summer Games, the companies said in a joint statement. IMG declined to disclose any financial details about the venture and the companies gave no details of planned football, baseball and other events. IMG said it will help bring more sponsorships to Chinese sports events. Fortsmann said he expects China's sports market to rival that of the United States in the next five years, though he did not say whether that meant in financial terms. He played down the impact of the global financial crisis and swine flu on the venture, saying, "these things come and go." IMG Sports Media says it is the world's largest independent producer of sports programming, operating in 30 countries with 2600 employees. CCTV, China's national broadcaster, operates 17 channels including a 24-hour sports channel. The network says it commands an 80 percent share of China's TV sports viewership. ___ Associated Press researcher Bonnie Cao in Beijing contributed to this report. ___ On the 'Net: IMG: http://www.imgworld.com CCTV: http://www.cctv.com Email Story IM Story Printable View Blog This Sign in to recommend this article » 0 users recommend Related Articles: China's Economy German econ min says has no favourite Opel bidderReuters - 2 hours 43 minutes ago WRAPUP 2-Rio cuts iron ore price by 33%, China wants moreReuters - 2 hours 44 minutes ago North Korea and economy worries hit global stocksReuters - Wednesday, May 27 GLOBAL MARKETS-North Korea, economy worries hit stocksReuters - Wednesday, May 27 Related Articles: Business China defends safety of drug exportsAFP - Wednesday, May 27 Japan's Nikon to cut 1,000 jobsAFP - Tuesday, May 26 Govt yet to decide on more June bond sales-finmin aideReuters - Tuesday, May 26 JGB futures edge up on Nikkei, await US mkt reopenReuters - Tuesday, May 26 China stocks slip 0.8 pct to 2-week closing lowReuters - Tuesday, May 26 Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed Climate change: World's destiny at stake G8 hears oil prices could again soar when crisis eases World Bank chief warns about economic crisis Vitamin D boosts brain power in middle-aged men Smokers duped by light cigarettes: US court View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

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