China Telecom Spins off Mobile Reading Base
People's Posts and Telecommunications News, 8/31/12
China Telecom (NYSE: CHA; 0728.HK) announced today that it has spun off its E-Surfing Reading mobile literature base as an independently operated company, following the successful spin-offs of its mobile gaming portal E-Game ("Ai Youxi") and its E-Surfing Video portal. E-Surfing Reading was registered as Tianyi Yuedu Wenhua Chuanmei ("E-Surfing Reading Culture Media") on August 7, and will officially begin operations as an independent company on September 8. Following the spin-off, E-Surfing Reading will maintain its focus on digital publishing and mobile reading services. The mobile reading base was established on September 8, 2010, and has nearly 70 mln registered users and nearly 25 mln monthly UVs.
Editor's Note: For more background on this topic, please see "China Telecom Spins Off Gaming Base" MD 8/13/12 issue and "China Telecom Establishes Video Subsidiary" MD 3/25/11 issue.
Keywords: China Telecom mobile literature wireless E-Surfing registered users spin-off 0728.HK CHA
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