Huayi Brothers Media Group announced on Wednesday that the company would invest 70 million yuan ($10.52 million) to become the majority shareholder of Huayi Giant Information Technology Co., in an effort to enter the online game industry.

According to the statement released by Huayi Brothers, the company would acquire 51 percent equity of Huayi Giant. One of the other shareholders of Huayi Giant is Giant Interactive Group, a leading online game developer and operator managed by Shi Yuzhu, a well-known Chinese entrepreneur in the IT industry.

It is expected that the annual net profit of Huayi Giant from 2011 to 2013 will be 14.413 million yuan ($2.16 million).

The main game product of Huayi Giant is the 3D King of Kings 3, which was launched at the end of April. Huayi Giant will obtain the intellectual property rights and research and development team of the game from Giant Interactive Group.

China's business press carried the story above on Wednesday. China.org.cn has not checked the stories and does not vouch for their accuracy.

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