Baidu Invests $15 Million In Chinese Online TV Operator UiTV
This story was written by Joseph Weisenthal.
Baidu (NSDQ: BIDU), the top Chinese search player, has taken a $15 million, 8.3 percent stake in UiTV, a Chinese online TV firm. The strategic investment calls for UiTV to host Baidu's film and movie channel, hosted at movie.baidu.comthe company claims it has the largest legal collection of downloadable movies and TV shows in the country. UiTV's strategy is to sign content licensing deals and to provide a platform, allowing other companies to immediately offer a full-fledged online video content service. It was founded in 2003. Release.
By Joseph Weisenthal