Shanda Denies Rumors of Ku6 Restructuring

Sohu IT, 4/22/13

Qiu Wenyou, president of Shanda Interactive, denied recent industry rumors that the online media and game operator has been preparing to absorb its online video subsidiary Ku6 (Nasdaq: KUTV) and launch a paid "Shanda Video" product. Qiu said that Ku6 is one of the three "chariots" pulling Shanda - along with Shanda Games and Shanda Literature - and added that Shanda will continue its investment in Ku6 in the future.

"Shanda's strategy is extremely clear," Qiu said. "All of our primary businesses are content-based" (implying that, as a content-based arm of Shanda, Ku6 would not be absorbed and disbanded). Shanda will continue to invest in Ku6, but not absorb the company.

Keywords: Shanda Internet strategy online video Ku6 KUTV Qiu Wenyou corporate restructuring

Feedback

Sending

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