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 […]
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announced that Hou Xiaoqiang, chief executive officer of the company, has stepped down from the position, and he has been replaced by Qiu Wenyou, chairman of the company.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.
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.
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.