Baidu Buys Stake in UiTV
ADOTAS – Top Chinese search shop Baidu has taken an 8.3% stake in UiTV, a Chinese Internet TV firm. The stake is worth about $15 million. Under these agreements, Baidu will contribute assets related to the operation of Baidu Internet TV Channel to UiTV in exchange for the stake.
Baidu Internet TV Channel is a Web site at which Internet users can download movies and TV programs. Through cooperation with the majority of China’s online movie and TV service and content providers, including TVB, Enlight Media and many others, Baidu Internet TV Channel has China’s largest database for authorized copy-righted movie and TV program downloads. Baidu Internet TV Channel operates an advertising-based revenue sharing model that allows users to download copy-righted video content for free.
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