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Sina Joins Hands with SUN-TV
Chinese portal web site Sina.com announced its teaming up Tuesday with the SUN-TV Cybernetworks Ltd. to build the country's largest broad-band portal and multi- media platform.
After paying 8 million US dollars and offering 4.6 million of its newly issued stocks, Sina.com will become the largest shareholder of SUN-TV, with 29 per cent of its shares.
Meanwhile, Yang Lan, president of SUN-TV, will get 10 per cent of Sina.com's shares, and become its biggest shareholder.
The two companies wish to expand their business scale, provide a larger variety of information for users and combine their respective advantages in TV and Internet services.
The NASDAQ-listed Sina.com boasts 29 million registered users, and enjoys a high reputation in the global Chinese community.
SUN-TV Cybernetworks Ltd. is listed on the Hong Kong stock exchange, and specializes in filming documentary programs targeting Chinese audiences.
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