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Baidu Invests $15 Million In Chinese Online TV Operator UiTV

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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.com—the 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.

Sep 28, 2008 10:14 PM ET

Posted In: Media & Publishing, TV, IPTV, Money, M&A & Venture Capital, Venture Capital, Countries, Asia, China

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