Wall street Journal article says it all. Promotes GCN Go Connect
Is Jackson Star Power Shining on GoConnect Shares?
The company’s shares have soared 250% this week. They jumped 33% on Tuesday and another 38% on Wednesday before the Australian Securities Exchange asked the company for a possible explanation.
In a filing to the exchange on Thursday, GoConnect Executive Chairman Richard Li said he couldn’t say for sure why the shares were soaring, but pointed to Go JLJ Entertainment, in which GoConnect has a 40% stake. (I thought it was only stated as 20% in their announcement-Mega)
Go JLJ Entertainment, GoConnect revealed on Thursday, is launching an American Idol-style musical competition in China, starring Jermaine Jackson, brother of Michael Jackson and a former member of the Jackson 5.
GoConnect’s shares rose another 91% on Thursday to an all-time high.
JJ5, as the competition will be known, will be broadcast in more than 50 Chinese cities.
Mr. Li said Go JLJ Entertainment had been advised that “securing significant sponsorships should not be difficult, particularly with the popularity of the Jacksons in China,” and that JJ5′s success would likely mean a big boost for GoConnect’s revenue.
The debut of JJ5 follows the rise of the Chinese version of The Voice as China’s most popular show. “I plan to find five talented individuals to create the next big all-round musical band and I plan to find them in China, which has the largest pool of undiscovered musical talent in the world,” Mr. Jackson said in a statement.
The first stage of the show will involve auditions and the selection of 15 contestants that can sing and dance. In the second stage, Mr. Jackson will mentor the contestants in three five-person groups. In the final stage, the bands will face off, with the winner claiming the name ‘Five.’
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