Qihoo 360 and Enlight Media in win-win tie-up
Print Edition
QIHOO 360 and Enlight Media will establish an Internet video joint venture in the latest cross-industry investment.
Shenzhen-listed Enlight Media will invest 48 million yuan (US$7.7 million) for 40 percent of the venture.
Qihoo 360 will distribute, broadcast and sell online tickets for the online video venture, both sides said yesterday.
The tie-up is a win-win cooperation because Enlight Media has a rich portfolio of online video content while Qihoo 360 has a strong distribution channel, Qihoo 360 said in a statement.
New York-listed Qihoo 360 has more than 460 million computer users and 640 million mobile users for its online security tools.
Shares of Enlight Media jumped 4.41 percent to close at 25.58 yuan yesterday, compared with a 0.36 percent decline in the Shenzhen market.
Xiaomi Corp has invested more than US$300 million in iQiyi and Youku Tudou while Baidu Inc acquired iQiyi, a major Chinese online video service provider.
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