Telstra's Sheng Tuo Spins Off Two Subsidiaries

Donews, 8/28/12

Telstra-owned Chinese online media company Sheng Tuo Media announced today that it has split off its automobile websites and IT news websites into two independent companies. One of these, Autohome, will manage Autohome.com.cn and second-hand car site Che168.com; the other, which will continue to use the name Sheng Tuo Media, will oversee the company's IT news properties, including PCPop.com and IT168.com.

Former Sheng Tuo Media CEO Qin Zhi will serve as CEO of Autohome, and will be replaced as CEO of Sheng Tuo Media by former Sheng Tuo executive VP Gao Yingrui.

Editor's Note: For more information on this topic, please see "Rumor: Autohome to IPO in Q2 2012," MD 2/23/12 and "Sheng Tuo Media Restructures Automobile Websites," MD 10/19/11 issues.

Keywords: corporate restructuring Gao Yingrui Internet PCPop online media Autohome IT168 Telstra Sheng Tuo Media Qin Zhi

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