Company: FENG
Filing Date: 2025-04-18
Form Type: 20-F
Source: 0000950170-25-055759
Chunk: 23

Company: Phoenix New Media Ltd
Filing Date: 2025-04-18
Form: 20-F
Item: Item 4
Chunk 23
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 TV Group and helps to enhance our own brand. In addition, under the 2024 Program Resource License and Cooperation Agreement, we also have the right to continue to use Phoenix TV Group’s copyrighted video content on our websites and our mobile applications.

We have a mutually beneficial relationship with Phoenix TV. We and Phoenix TV share a common vision of the convergence of traditional and new media channels, and work together to realize this vision. Pursuant to the Program License Agreements, Phoenix TV Group agreed to grant Tianying Jiuzhou, Yifeng Lianhe and Fengyu Network the license to use Phoenix TV Group’s copyrighted content from three television channels of Phoenix TV Group for our various media services in China (excluding Hong Kong, Macau and Taiwan). After the Program License Agreements expired in May 2019, Phoenix TV Group adjusted the scope of license granted to Tianying Jiuzhou and Yifeng Lianhe according to the 2020 Program Resource License and Cooperation Agreement. Tianying Jiuzhou and Yifeng Lianhe later terminated the 2020 Program Resource License and Cooperation Agreement and Tianying Jiuzhou entered into the 2021 Program Resource License and Cooperation Agreement. In April 2024, in anticipation of the upcoming expiry of the 2021 Program Resource License and Cooperation Agreement, Phoenix New Media (Hong Kong) Company Limited entered into the 2024 Program Resource License and Cooperation Agreement to continue the license from Phoenix TV. We believe that our and Phoenix TV’s active promotion of one another’s brands on our respective Internet-enabled and TV platforms helps to grow our combined audience synergistically. In addition, we and Phoenix TV Group work closely on major world news events coverages, and provide joint advertising services to each other's advertisers.

Our former Chief Executive Officer, Mr. Shuang Liu served as the chief operating officer of Phoenix TV until March 2023. Mr. Yusheng Sun, an executive director, deputy chief executive officer, editor-in-chief and a member of the Nomination Committee of Phoenix TV, was appointed as the Chief Executive Officer of us.

For more information about the terms of the agreements with Phoenix TV and its subsidiaries, see “ Item 7. Major Shareholders and Related Party Transactions - B. Related Party Transactions - Agreements and Transactions with Phoenix TV and Certain of its Subsidiaries.” For more information about the risks associated with our relationship with Phoenix TV, see “ Item 3. Key Information - D. Risk Factors - Risks Relating to Our Business and Industry