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December 15, 2006

Waveless Rumor - Baidu Wants to Buy Video Sharing Sites 56.com and Tudou

posted by MR WAVETHEORY at 12/15/2006 03:04:00 PM
Tudou founder Gary Wang

Baidu.com, Inc. (ADR) (Nasdaq BIDU) (via) has approached a number of Chinese video-sharing sites including 56.com and Tudou.com for informal talks, local media reported this week, however, a senior executive at Tudou.com downplayed the possibility of any potential take-over.

Baidu.com, Inc. (ADR) is currently in talks with domestic online video sites Tudou.com and 56.com about an acquisition, according to a rumor reported by Shanghai Securities News. Google, meanwhile, plans to acquire a Chinese online video site or find a local partner to release a Chinese version of its video site Youtube next year, China Business News reports quoting unnamed insiders. Baidu has partnered with content providers, including MTV, to launch its own paid video and MP3 download platform called "Xia Ba" at v.baidu.com.

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