Foreign media reports said that Baidu Inc. (Nasdaq: BIDU) is seeking for spinning off affiliated video website iQIYI.COM for a listing to make full use of online content market with expanding demand.
Vice president of iQIYI.COM pointed out that the company will seek for opportunity for an IPO when the capital market is in a good situation and it is well prepared, although there is currently no specific timetable available.
This month, Baidu declared the acquisition of PPS for USD 370 million to strengthen its video service, making iQIYI.COM one of the biggest Chinese mobile video platforms.
In consideration of profitability, iQIYI.COM will shoot more videos by itself to lower costs.
Source:
http://www.sinocast.com/readbeatarticle.do?id=93777
