China Star Entertainment Limited, a Hong Kong-listed entertainment giant, said on Monday that it will join hand with Yahoo! Inc., the world's leading U.S.-based portal operator, to develop a co-branded online broadcasting entertainment channel for Chinese language movies and television programs, according to Xinhua News Agency.

This is Yahoo!'s first major cooperation with an entertainment and multimedia enterprise in Hong Kong, according to news release issued by China Star.

The cooperation will offer a new channel enabling viewers to enjoy their favorite movies at anytime and anywhere they want, the firm said. It believed the cooperation will combine Yahoo!'s state-of-the-art technology in Internet communications and its web pages' extensive coverage, and China Star's strong entertainment business experience and resources.

Under a licensing agreement with China Star, Yahoo! will design, host and maintain a co-branded access page, in the form of an online broadcasting entertainment channel, where China Star's top ranking motion pictures and television programs can be directly accessed through the Internet.

China Star, on the other hand, will grant Yahoo! worldwide royalty-free-rights and license to distribute certain of its motion pictures and TV drama. It will also explore e-commerce opportunities, including distribution of video products and other merchandise online, under the cooperation with Yahoo!.

China Star, which is principally engaged in video, film and television drama series distribution, possesses one of Hong Kong's largest motion picture libraries. It is developing an entertainment webpage covering information on movies, TV dramas and popular actors and actresses and a range of relevant news.