Chinese tech giant Baidu is reportedly in talks to sell off its controlling stake in the country’s second-largest streaming service iQiyi. According to Reuters, Baidu is looking to sell its 53% stake in the ‘Chinese Netflix’, with the company setting a target value at around US$7 billion. Baidu currently holds more than 90% of iQiyi’s […]
The Chinese government is reportedly likely to thwart tech company Baidu’s US$3.6 billion acquisition of YY Live, the live streaming business of JOYY. According to sources cited by Reuters, the Chinese antitrust regulator – the State Administration for Market Regulation (SAMR) – will not approve the deal as Beijing moves to rein in corporate expansion […]
Chinese streaming giant iQiyi may reach profitability in five years time, according to its CEO. In comments made to Reuters, Baidu founder and CEO Gong Yu said that the streamer – which effectively serves as the Chinese equivalent of Netflix – will turn to ‘intelligent production’ to cut costs and reach profitability. The process of […]
Users of smart speakers, like Amazon’s Echo or Google’s Nest ranges, are increasingly switching to smart displays. According to Strategy Analytics, the share of all smart speaker sales incorporating a display was 26% in Q3 2020, compared to 22% a year earlier. Smart displays sales in Q3 rose year-on-year by 21% to 9.5 million units, […]
MTG-owned online video network, Zoomin.TV, has signed a deal with Baidu to produce a 144-episode original series for the Chinese company’s short-form platform, Haokan. Amazing China Stories will target ‘Gen Z’ viewers in the country and will consist of 12 episodes per-month for a year. The episodes will showcase “Generation Z stories of Chinese living […]
Chinese internet search giant Baidu is planning a possible IPO for its video streaming unit iQiyi in the US. iQiyi, sometimes referred to as the ‘Chinese Netflix’, has submitted a filing with the US Securities and Exchange Commission for a proposed listing on a US stock exchange. Baidu said the listing would “commence as capital […]
Chinese search giant Baidu has received a buyout offer for its video site Qiyi, which values the service at US$2.8 billion. In a statement, Baidu said it had received a non-binding proposal from Baidu chairman and CEO Robin Yanhong Li and Qiyi CEO Yu Gong for the 80.5% share in Qiyi that is owned by […]
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