Update: Enlight Media, Qihoo Form Online Video JV
Enlight Media, 12/23/14
Beijing-based TV program and film production company Enlight Media (300251.SZ) has announced that it has signed an agreement with internet company Qihoo 360 (NYSE: QIHU) to establish a joint venture focused on providing online video services to internet users within China. Enlight will invest RMB 48 mln, or 40% of the registered capital of the joint venture.
Enlight said the joint venture company will focus mainly on operating online video services centered on film content. According to the announcement, Enlight has a large library of quality movie, television and entertainment content to draw upon, while Qihoo brings a sizeable user base, internet traffic and online video technology to the table. The joint venture established by the two companies will focus on online video services, and on initiating a new model for online video operation.
Editor's Note: For more background on this topic, please see "Rumor: Qihoo 360, Enlight Media to Launch Premium Video Site," MD 10/27/14 issue. The new JV could have a negative impact on online video services provider Youku Tudou (NYSE: YOKU), which several reliable industry sources have told Marbridge is currently paying a significant fee to buy video traffic from Qihoo 360.
Keywords: film Internet online video Enlight Media JV Qihoo 360 QIHU film production 300251.SZ TV content production
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