China Digital TV: OpenV Investigated, Arrests Made
PR Newswire Asia, 10/28/10
Beijing-based digital TV conditional access solutions provider China Digital TV Holding (NYSE: STV) today announced that it has been informed that Chinese online video site OpenV, in which China Digital TV holds a minority stake, is under investigation regarding video copyright infringement, and OpenV executives have been arrested.
On October 27, 2010, China Digital TV was notified by OpenV that OpenV has been under investigation for alleged copyright infringement by a Chinese government authority. In addition, China Digital TV was informed that a number of OpenV's executive officers are in police custody helping investigators with their inquiries. OpenV's normal online video services to customers have been suspended because of the ongoing investigation.
China Digital TV has invested an aggregate of USD 5 mln in OpenV to date and currently holds an approximately 11.5% equity interest in that company. China Digital TV has appointed two existing members of OpenV's board of directors. China Digital TV otherwise does not have any on-going business relationship with OpenV.
Keywords: television online video OpenV copyright China Digital TV Holding STV law IPR infringement scandal
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