Passengers wear masks at Guangzhou airport as a precaution against the outbreak of coronavirus that originated in Wuhan. Photo: EPA-EFE

Huanxi Media shares skyrocket as Douyin’s parent pays 630 million yuan to stream its movies as Wuhan virus forces Chinese cinemas to close

  • ByteDance will pay at least 630 million yuan (US$90.8 million) for new movies and dramas to stream on its top video platforms over Lunar New Year holiday
  • Many Chinese cinemas have closed for the normally lucrative holiday as the authorities try to contain a coronavirus that has already claimed more than 20 lives
Topic |   Coronavirus pandemic
Passengers wear masks at Guangzhou airport as a precaution against the outbreak of coronavirus that originated in Wuhan. Photo: EPA-EFE
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