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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.
News For KUTV From The Last 14 Days
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February 5, 2016
08:36 EDTKUTVKu6 Media selects legal and financial advisors to study Shanda's proposal
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February 2, 2016
08:32 EDTKUTVKu6 Media forms special committee to consider 'going private' proposal
Ku6 Media announced that in response to the preliminary non-binding proposal letter dated February 1, 2016 received by the company's board from Shanda Interactive Entertainment Limited, the controlling shareholder of the company, to acquire the company in a "going private" transaction, the Board has formed a special committee of independent directors who are not affiliated to any member of the Proposing Buyer. The Special Committee intends to retain its own independent financial advisor and legal counsel to assist it in its evaluation.
February 1, 2016
06:14 EDTKUTVKu6 Media receives non-binding acquisition proposal from Shanda Interactive
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