Today news
Related News
China’s Tencent Video Eyeing Takeover of Streaming Rival iQIYI (Report)
Reading now: 423
variety.comPatrick Frater Asia Bureau ChiefChinese social media and entertainment giant Tencent may be eyeing a move to take over rival video streaming firm iQIYI.
A combination of the two would a create streaming platform comparable in scale to Netflix.The Reuters news agency on Tuesday cited two unnamed sources said to be familiar with the matter.
They said plans are at an early stage and that Tencent may not yet have approached iQIYI.The sources said a merger “would lower costs and counter competition in a sector boosted by stay-at-home virus policies.”Streaming video has enjoyed huge growth in China over the past five years, since smart phones became the norm in the Middle Kingdom.
Read more on variety.com
The website celebsbar.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
