Letv.com Acquires Full Stake In Huaer Entertainment For CNY900 Million

Chinese Internet video company Letv.com is buying a 100% stake in Dongyang Huaer Entertainment Media Co. Ltd. for CNY900 million. After the acquisition, Liu Hong, chief executive officer of Letv.com, will become chairman and general manager of Huaer Entertainment. Liu will control the operating planning and business direction of the company to realize its coordination […]

China’s BesTV Sets Up Digital Media JV With Walt Disney

Chinese media platform BesTV has reportedly reached an agreement with Walt Disney to set up a digital technology joint venture in China. This joint venture will reportedly focus on digital technology consulting services related to services, products and contents of BesTV and Walt Disney in mainland China. The total investment for the joint venture will […]

Shanda Literature CEO Departs

Shanda Literature announced that Hou Xiaoqiang, chief executive officer of the company, has stepped down from the position, and he has been replaced by Qiu Wenyou, chairman of the company. According to a notice published by the board of directors of Shanda Literature, Hou’s resignation is due to health reasons and he needs time for […]

NetEase.com Says Almost All Of Its China Revenue Derived From Online Games

Chinese Internet portal and online game service provider NetEase.com Inc. announced its unaudited financial results for the third quarter ended September 30, 2010.

Sina.com Forecasts Lower Net Revenue From Chinese Internet Operations

Chinese online and wireless value-added service media company Sina Corporation announced its unaudited financial results for the quarter ended September 30, 2010, and said net revenues grew 12% year over year to USD108.2 million but the company expects lower results in the following quarter.

American Internet Search Engine Pulls Operations From China

Search engine Ask.com, a wholly owned business of IAC, is halting operations at its office in Hangzhou.

Internet Job Ads In China Push 51job To Increased Profit

Chinese online recruitment firm 51job Inc. announced its unaudited financial results for the third quarter of 2010 ended September 30, 2010.

Google Ends Deals With Seven Chinese Advertising Agents

Search engine giant Google has announced that it will terminate the agency qualifications of seven Chinese advertising agents and the termination agreement will become effective from October 27, 2010, according to reports in foreign media.

China’s Sina.com Publishes First Microblog White Paper

Chinese portal website Sina.com has published its first white paper targeting the Chinese microblog market.

Shanda Literature Acquires Zubunet.com

Shanda Literature, the Internet literature subsidiary of China’s Shanda Interactive Entertainment Limited, has announced that it has acquired the Chinese digital periodical website Zubunet.com.

Chinese Internet Advertising Revenue Up For Focus Media

Chinese digital media firm Focus Media Holding Limited announced its unaudited financial results for the second quarter ended June 30, 2010, and stated total net revenue was USD158.2 million, representing an increase of 27% from USD124.9 million for the first quarter of 2010 and an increase of 22% from USD129.5 million for the second quarter […]

Focus Media Dumps Chinese Internet Advertising Company Allyes

Chinese digital media firm Focus Media Holding Limited has entered into a definitive share purchase agreement to sell to Silver Lake a 62% indirect equity ownership of its Internet subsidiary, Allyes Online Media Holdings Ltd and its consolidated subsidiaries and affiliates, for USD124 million.

China’s Shanda Literature Expands Digital Footprint To Singapore

Shanda Literature, the online literature subsidiary of China’s Shanda Interactive Entertainment, has reportedly registered and established a subsidiary in Singapore, aiming to expand into the English-language digital and mobile e-book reading market.

Focus Media Implements Allyes MBO As Digital Advertising Revenue Plummets In China

Chinese digital media group Focus Media has announced that the company and its subsidiary Allyes will implement a management buyout, acquiring a 38% stake in Allyes for USD13.3 million.