More end-of-year activity in China’s online video market. Sohu and Shanda—two of China’s largest online entertainment and media companies—plan to invest up to $10 million in a new fund that will buy Hollywood film and TV content licenses. Shanda (NSDQ: SNDA) is investing in the fund through newly-acquired online video site Ku6; Sohu (NSDQ: SOHU) is investing directly.

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With piracy being one of the biggest problems Hollywood studios (and video game companies) face in bringing their content to China, both companies said they’ll take extra steps to keep unauthorized clips off of their various websites, per Reuters. The news comes on the heels of a funding announcement from rival (though much smaller overall) video-sharing site Youku, which just raised $40 million from investors including Sutter Hill Ventures and Maverick Capital.