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Youku to buy Tudou in China online video deal

03-13-2012 08:43 BJT

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A bitter rivalry between China's two largest online video companies has taken an interesting twist. Instead of parting ways, they’re joining together to create an industry leader in the world’s biggest internet market., the largest, is buying second-ranked Tudou Holdings Ltd. in an all-stock deal valued at more than 1 billion dollars. The combined entity will be named Youku Tudou Inc.

An employee is seen through a glass wall as she walks past the logo of
above the reception desk at the company's headquarters in Beijing, in this December
9, 2010 file photo.

Two names few would have imagined to merge, given heated courtroom battles over alleged copyright infringement and unfair completive practices that began in December.

You know what they say: if you can’t beat them, join them.

A pedestrian walks past the company logo of Tudou located outside their headquarters
in Shanghai in this August 17, 2011 file photo.




Editor:Zhang Rui |Source: CNTV.CN

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