Marbridge Daily

<- February 28, 2014 ->

Rumor: Sohu, Tencent Plan Video Business Merger

Sohu IT, 2/28/14

A source close to both parties has revealed that Charles Zhang, chairman and CEO of Chinese internet firm Sohu (Nasdaq: SOHU), and Pony Ma (Ma Huateng), CEO of Chinese internet and mobile services firm Tencent (0700.HK), have conducted extensive closed-door meetings regarding a potential online video partnership between the companies. The two parties have reportedly come to a tentative agreement to merge Tencent and Sohu's respective online video businesses, establishing a new company headed by Zhang as CEO, with Tencent as a strategic (but not controlling) partner.

Editor's Note: For more information on this topic, please see "Rumor: Tencent Video to Announce M&A Deal in H1 2014," MD 2/25/14 and "Sohu, Sogou, Tencent Announce Strategic Cooperation," MD 9/16/13 issues.

 
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