Shanda plans expansion, inches close to Ku6 buy
By Chen Limin | China Daily | Updated: 2009-11-27 08:02
Chinese media company Shanda Interactive Entertainment Ltd is acquiring video website Ku6.com, in an effort to expand its market share in the interactive entertainment segment.
Shanda has agreed to buy Ku6.com, a source familiar with the matter told China Daily yesterday, declining to reveal more details.
Media reports have said that Hurray! Solutions Ltd, a subsidiary of Shanda, will pay $44 million for a 58 percent stake in Ku6.com.
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