Cityneon unit partners South Korean firm for Marvel's exhibition in Las Vegas

CITYNEON Holdings Limited announced on Saturday that its wholly owned subsidiary in the US has partnered Fabulous Inc to set up an interactive, exterior digital media signage for the Marvel's Avengers S.T.A.T.I.O.N. exhibition in Las Vegas.

Station-LV LLC has signed a term sheet with Fabulous for the project, which has a duration of five years.

Fabulous has an option to renew the term for another five years, and the total contract value is for a minimum guarantee of US$15 million.

A deposit of US$500,000 has been received by Station-LV.

Fabulous is a company established in Seoul in 2010. It has been producing premium film content for performing arts such as musicals, concerts, ballets, operas and contemporary dance from all around the globe including France, the US, Belgium and South Korea.

The term sheet is subject to the execution of a definitive agreement. The company will make further announcements when a definitive agreement relating to the project is entered into between Station-LV and Fabulous.

On Dec 15, Cityneon announced that it was purchasing Scorpio East (SE) Properties Pte Ltd for about S$2.9 million from KOP Limited.

Scorpio East (SE) Properties is a wholly owned subsidiary of KOP Limited.

Cityneon last closed unchanged at S$0.94 on Friday.