Shanghai-based video streaming platform PP-Stream has reportedly been purchased by i-Qiyi, the online video unit of China's Internet search giant Baidu, for around 350-400 million US dollars.
The China Business News is reporting PPS and i-Qiyi will continue to operate as independent brands, but will share back-end technical integration.
i-Qiyi, who launched 3 years ago, has focused on legal contents distribution, which are produced by media and entertainment agencies.
As such it has been dubbed as the Chinese version of the popular US online video provider- Hulu.
For more on the increasing consolidation seen in the online video distribution sector, we're joined on line now by Doug Young, Associate Professor at Fudan University and former China company news chief at Reuters.
