Run Liang Tai Management to acquire a 32% stake in Yidian Zixun from Phoenix New Media for $350m.

Run Liang Tai Management to acquire a 32% stake in Yidian Zixun, a rapidly-growing personalized news and lifestyle information app, from Phoenix New Media, a global new media company, for $350m. "We are moving one more step closer towards realizing the return on our investment in Yidian. We believe that selling partial ownership of Yidian to a strategic buyer will help maximize Yidian's growth potential as well as fuel our own growth in the long-run," Shuang Liu, Phoenix New Media Chief Executive Officer.