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LeTV Obtains RMB 1 Bln Credit Line

Sina Tech, 11/10/11

Chinese online video site LeTV (Leshi) (300104.SZ) announced today that it has secured a RMB 1 bln credit line from the Beijing branch of the Agricultural Bank of China.

With the announcement, LeTV COO Liu Hong said that LeTV has now amassed more than 50,000 TV drama episodes and 4,000 films. "We obtained exclusive online copyrights to more than 70% of hit teleplays last year," Liu said, "and expect to do the same for between 50-60% of popular shows in 2012, and 40-50% in 2013."

Keywords: financing Liu Hong Internet online video LeTV 300104.SZ Leshi

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