China Media Monitor Headlines Archives

November 15 saw video site Youku.com submit a listing application to the Securities and Exchange Commission (SEC). The application claims to raise as much as US$150 million in an initial public offering (IPO). Goldman Sachs Group will underwrite Beijing-based Youku.com’s IPO. The pricing of the sale wasn’t disclosed. The application shows the management team holds 52.37% stakes and president Victor Koo holds 41.8%.

Youku.com's move comes less than a week after Tudou.com made a similar IPO filing aimed at raising up to US$120 million.

China now has more than 420 million Internet users, according to China Internet Network Information Center (CNNIC).

November 11 saw China’s NASDAQ listed video site Ku6.com announce its acquisition of webcast rights for the 2010 Guangzhou Asian Games from CNTV.cn, the copyright owner. Ku6.com has launched live broadcast and video on demand (VOD) services for the opening and closing ceremonies as well as 42 exciting contest events during 15-day Games. Previously, Ku6.com bought webcast rights from CNTV.cn for the 2008 Beijing Olympics and 2010 FIFA World Cup.

November 15 saw NASDAQ listed video portal Ku6.com announce unaudited financial results for its third quarter ended September 30, 2010, highlights as follows.

Total revenues from continuing operations, representing advertising revenues contributed by online video portal and online radio operations, grew to US$4.0 million in the third quarter, up 35.1% from US$2.9 million in the second quarter. Net loss from continuing operations narrowed to US $12.7 million in the third quarter of 2010, a decrease of 18.0% from a loss of US $15.5 million in the second quarter of 2010.

November 11 saw Chinese Internet portal Sina.com and Microsoft's MSN China reach an agreement to implement a comprehensive cooperation, involving microblogs, blogs, instant messaging, information content and wireless services.

For example, with the integration of Sina’s microblog and MSN, users' microblog updatess will be displayed on Windows Live Messenger synchronously; meanwhile, users can login to the Sina microblog with their Windows Live IDs.

China International TV Corporation (CITVC) has acquired the publishing and distribution rights for audiovisual products of the 16th Asian Games Opening and Closing Ceremony and excellent clips from the Asian Games Organizing Committee. CITVC specializes in distribution of major national events, with recent hit titles including the 2008 Beijing Olympics, 60th Annual National Day Military Parade and World Expo 2010.