Get the free version of Marbridge Daily delivered to your inbox

Click here to subscribe

BesTV to Invest USD 30 Mln in Funshion

Sohu IT, 3/27/12

Shanghai Media Group IPTV subsidiary Shanghai BesTV New Media (600637.SH) issued a public filing today announcing that it plans to spend USD 30 mln in cash to acquire 35% shares of Beijing-based P2P online video player maker Funshion Networks and subsidiary Beijing Funshion Online Technologies, both though stock acquisition and increasing its existing investments in Funshion.

Industry sources speculate that the investment could be a major move by BesTV towards expanding into online video. 19.64 mln internet users watch HD video through Funshion.com per day, and the site has a total of more than 237 mln registered users.

Keywords: Shanghai Media Group Internet investment television online video Funshion BesTV P2P registered users 600637.SH M&A

Feedback

Please note, all fields are required.
None of your personal information will be shared with third parties.

SendingSending

Disclaimer

The information contained in this newsletter is based upon sources that Marbridge Consulting believes to be reliable, and we have made every effort to translate the original articles or article excerpts as faithfully as possible. However, Marbridge Consulting makes no warranty of and assumes no legal responsibility for the accuracy of either the original source material or the English language translations.

Marbridge Daily Premium

Interested in gaining full access to all newsletter articles and the Marbridge Daily archive? To learn more about premium subscription options, including pricing, please:

Click here

Marbridge Consulting RSS Feed

Marbridge Reports