Rumor: Sina Portal Spins Off Online Literature Channel
iLieyun.com, 6/07/13
An industry source reported today that Chinese internet company Sina (Nasdaq: SINA) has spun off its online literature channel in order to form a joint venture company — in which Sina will hold a majority share — with another technology company.
A source at Sina's online literature channel declined to comment when contacted for confirmation by iLieyun. A number of sources, however, report that employees of the online literature channel have moved out of Ideal International Plaza, where Sina is headquartered, and into a new company located further south and west of Sina headquarters in the Chedaogou section of Beijing's Haidian district.
Sina is reportedly actively working on planning new operations models, and could spin off more promising channels in the future.
Keywords: spin-off Internet online literature Sina portal
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