Dr. Peng Invests RMB 30 Mln in Galaxy Internet Television

Dr. Peng, 8/28/14

Chengdu-based telecom services provider Dr Peng Telecom & Media Group (600804.SH) announced yesterday that the company has invested RMB 30 mln for a 9.09% share of Galaxy Internet Television.

Galaxy Internet Television, a joint venture of CNR New Media, Jiangsu TV and online video website operator iQiyi, holds an Internet TV broadcasting license and provides OTT services across China. A spokesperson for Dr. Peng expressed that the investment will tighten the working partnership between the two companies and help Dr. Peng achieve strategic nationwide layout and implementation for its internet TV "Cloud Management" terminals.

Keywords: Baidu BIDU China National Radio M&A television online video Internet TV Dr. Peng 600804.SH iQiyi OTT Galaxy Internet Television Jiangsu Television

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