Update: Xunlei Spins Off Online Video Business

Dayoo.com, 12/03/12

Liu Feng, chief planning officer for Chinese online P2P video service provider, download accelerator software developer, and online game operator Xunlei, has been appointed the CEO of P2P online video service provider Xunlei Kankan, which recently began independent operations in Shenzhen. Liu will oversee the subsidiary's operations and development.

Xunlei Kankan will invest RMB 500 mln to build a cross-platform online film distribution platform for cinemas, provide premium value-added services for online users, and establish distribution partnerships with various enterprises, as well as license copyrighted content.

Editor's Note: For more information on this topic, please see "Rumor: Xunlei to Spin Off Online Video Business for IPO," MD 11/23/12 issue and "Xunlei to Buy Rights to 95% of 2013 Film Releases," MD 11/26/12 issues.

Keywords: spin-off Liu Feng Internet online video Xunlei Kankan P2P

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