BesTV Increases Stake in P2P Video Site Funshion to 54%

Shanghai Stock Exchange, 8/15/13

Shanghai Media Group subsidiary BesTV New Media (600637.SH) has increased its investment in Beijing-based Funshion Online Technologies, operator of P2P-based online video site Funshion.com. BesTV New Media and its wholly-owned subsidiary, BesTV Online (Cayman) Limited, will use RMB 306.6 mln in cash to purchase additional equity in Funshion Online. After the additional investment, BesTV New Media will own a 54.0% stake in Funshion Online through its wholly-owned subsidiary BesTV Online (Cayman) Limited.

Editor's Note: For more information on this topic, please see "BesTV to Invest USD 30 Mln in Funshion," MD 3/27/12 issue.

Keywords: Shanghai Media Group Internet investment online video Funshion BesTV 600637.SH

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