(Yicai Global) Sept. 6 -- Maoyan Movie, the online ticketing platform of Tianjin Maoyan Media Co., will acquire rival platform Gewara .
After Gewara received a notice Sept. 1 that Tianjin Maoyan Media Co. will acquire it, the firm stopped sales of its time cards and group ticketing services, the National Business Daily reported.
Gewara is a subsidiary of Shanghai Gewara Business Information Consultancy Co. and offers online booking services for movies and performances.
Maoyan Movie is a leading internet movie and entertainment media platform integrating online ticket services and movie derivative sales in China.
Maoyan Movie, Yupiao (formerly Wepiao) and Gewara were the top three players in China's online movie ticket market in 2015's third quarter, respectively occupying 26.7%, 15.8% and 12.2% of the market share, per EnfoDesk data.
Beijing Micro Movie Times Technology Co., the owner of Yupiao, and Shanghai Gewara Business Information Consultancy Co., Gewara's owner, have announced their merger. Yupiao and Gewara will operate independently thereafter.
Yupiao will also merge with Maoyan Movie. Beijing Enlight Media Co. [SHE:300251] and Shanghai Enlight Investment Holdings Co. together hold a 77 percent stake in Maoyan Media.
The ruling triumvirate of Maoyan Movie, Yupiao and Gewara in China's online ticket platform sector will topple, and Enlight Media and Enlight Investment Holdings will be left as the ultimate winners.