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LeTV to Build AV Industy Base in Beijing

Shenzhen Stock Exchange, 12/07/12

In a public filing today, Chinese online video site LeTV (300104.SZ) announced plans to join with Beijing Tongzhou International New City Investment & Operation to invest RMB 47.5 mln in the establishment of "LeTV Internet Audiovisual Industry Base Cultural Development (Beijing)," giving LeTV 95% of the new company's RMB 50 mln registered capital. The new company is intended to help drive development of the "China (Beijing) Internet Audiovisual Industry Base" project drafted by LeTV and the Tongzhou district government.

Keywords: television Tongzhou International New City Investment Internet investment online video LeTV 300104.SZ Leshi Internet TV

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