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LeTV sets up joint venture to expand Internet business

LeTV.com, one of the biggest online video providers in China, has partnered with the Radio and Television Group of Chongqing and Chongqing Cable Network Co Ltd to jointly develop Internet TV business. According to a statement issued by LeTV.com on Wednesday, the Shenzhen-listed company has inked a strategic partnership agreement with the two TV-focused Chongqing companies to set up a subsidiary to develop Internet TV business. The Radio and Television Group of Chongqing said it will try its best to seek government support in order to gain an Internet TV license from the central government.

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