New Express, 4/24/14
China's National Anti-Pornography Office announced today that Chinese internet company Sina (Nasdaq: SINA) has had its internet publishing license and online audio-visual broadcasting license revoked due to pornographic and obscene content found on its online literature and online video platforms. According to the announcement, Sina has been banned from engaging in the online publishing and online audio visual content industries, and will face a fine valued at 5 to 10 times the value of revenues taken in from illicit content on the company's online properties.
The Anti-Pornography Office discovered more than 20 cases of illicit content on Sina's online literature site, as well as four cases of illicit content on Sina's Paike photo sharing app.
Sina holds the right to appeal the decision.
Editor's Note: According to a CCTV report, China's Anti-Pornography Office launched a nation-wide anti online pornography campaign on April 13. According to the announcement from the Anti-Pornography Office, Sina can no longer engage in the online publishing or online audio and video businesses. Sina has issued a public apology, as well as shut down its online literature channel, stating that the company will remove the illicit content and will resume the service in the future. Sina's online video site is still operational.