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Stock Market & Financial Investment News

News Breaks
April 3, 2014
07:44 EDTKUTVKu6 Media announces closing of shareholding change, change of board of directors
Ku6 Media announced that the controlling shareholder of the company, Shanda Media Group Limited, has consummated the sale of 1,938,360,784 ordinary shares of the company -- amounting to approximately 41% of the company's issued and outstanding share capital -- to Xu Xudong. The aggregate consideration for the Sale Shares was $47.35M. In connection with the closing of the Transaction, the company also announced the resignation of Bruno Wu, Tianqiao Chen, Danian Chen, Fang Du and Tuoc Luong as directors of the board and all board committee positions which they held. Mr. Xu and Li Jiangtao were appointed as directors of the board effective as of today. Mr. Xu was also appointed chairman of the board, member and chairman of the Compensation and Leadership Development Committee and member and chairman of the Corporate Development and Finance Committee, with all such appointments effective as of today.
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September 5, 2014
07:47 EDTKUTVNew foreign content limits placed on Chinese video sites, Marbridge Daily says
China's General Administration of Press and Publication, Radio, Film and Television issued new regulations requiring online video sites to apply for licenses for each foreign produced program they carry and limiting the percentage of licensed foreign content compared to domestic content, said Marbridge Daily, citing Sina Tech. Operators of Internet television services in China include Youku Tudou (YOKU), YOU On Demand (YOD), Ku6 Media (KUTV), Phoenix New Media (FENG), and Baidu's (BIDU) IQiyi. Reference Link

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