Rumor: Renren to Sell 56.com to Sohu

TechWeb, 10/21/14

According to an industry source, Beijing-based social networking site operator Renren (NYSE: RENN) will sell its online video platform 56.com to internet firm Sohu (Nasdaq: SOHU) for USD 12.90 mln. Representatives from 56.com, Renren and Sohu have yet to comment on the matter.

Renren purchased 56.com for USD 80 mln in October 2011.

Editor's Note: Chinese broadcasting company Hunan Broadcasting System's online video platform Mango TV was previously rumored to have been angling to acquire 56.com. For more information on this topic, please see "Mango TV Denies Rumor of Acquisition of 56.com," MD 8/01/14 issue and "Renren Acquires Online Video Site 56.com" MD 9/27/11 issue.

Keywords: Internet online video 56.com Renren Sohu RENN M&A

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