Rumor: Mango TV to Acquire 56.com

TechWeb, 7/30/14

According to an industry insider, Mango TV, the online video platform of Hunan Broadcasting System and Hunan Satellite TV, plans to acquire 56.com, the online video sharing site of Beijing-based social networking site operator Renren (NYSE: RENN). Mango TV will formally announce the deal in August or September, with 56.com founder Zhou Juan likely leaving the company.

Mango TV's average daily page views (PVs) recently reached 10 mln. Through the partnership with 56.com, Mango TV can increase its user-generated content (UGC) and expand its overall content library.

Editor's Note: For more information on this topic, please see "Rumor: Baidu in Talks to Acquire Ku6, 56.com," MD 10/16/13 issue.

Keywords: Zhou Juan Internet online video 56.com Hunan Satellite TV Renren UGC Hunan Broadcasting System Mango TV RENN M&A Internet traffic

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