Phoenix Publishing & Media to Acquire 10% Stake in PPTV

Phoenix Publishing & Media, 8/31/14

Jiangsu-based Phoenix Publishing & Media (601928.SH) announced today that the company has set up a special fund of RMB 371 mln to invest in P2P streaming video platform PPLive (PPTV). If the deal is approved, Phoenix Publishing & Media will indirectly take a 9.56% stake in PPTV.

According to PPTV, the company holds a 6.6% share of China's online video advertising revenue, with 270 mln PC users and 70 mln mobile users.

Consumer electronics and home appliance retailer Suning Commerce Group (002024.SZ) is PPTV's largest shareholder with a 44% stake.

Editor's Note: For more background on this topic, please see "Suning Completes Investment in PPTV" MD 1/02/14 issue.

Keywords: Internet users online video PPLive Suning P2P 002024.SZ Phoenix Publishing 601928.SH M&A

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