(Yicai Global) Dec. 11 -- Phoenix New Media Ltd. [NYSE:FENG] signed new trademark license agreements with its broadcaster sister company to replace old deals, the listed company said today.
Phoenix New Media will now pay annual license fees to Phoenix Satellite Television Holdings Ltd., the value of which will be either 2 percent of the licensee's annual revenue or USD100,000, whichever is greater. The old agreements were worth just USD10,000 a year.
The licensor will allow the listed firm to continue using some of its trademarks under the new agreements, including the double-phoenix logo, the phrase 'Phoenix New Media' and its Chinese equivalent for three years.
The licensee will also continue to use trademarks from the company's two mobile applications, including the Chinese translations of 'Phoenix News' and 'Phoenix Video' for one year. The license will automatically renew upon expiration unless Phoenix TV objects.