Announced
Financials
Tags
Minority
Pending
China
information application
Online and Social Platforms
Acquisition
Private
Single Bidder
Friendly
Synopsis
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.
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