The9 repurchased 1.34M shares for about $3.8M under share repurchase program The9 Limited announced that the company has repurchased about 1.34M American Depositary Shares for an aggregate consideration of approximately $3.8 million under its $10M repurchase program announced in December 2012. The repurchased shares account for approximately 6% of the company's outstanding ordinary shares. The company will continue to repurchase under its $10M repurchase program.
The9 announces joint venture obtained exclusive license in China The9 announced that its joint venture Oriental Shiny Star Limited has entered into a license agreement with Smilegate Entertainment, a Korean game developer, for publishing and operating Cross Fire 2 on an exclusive basis for a five-year term in mainland China. In consideration for the exclusive license, JVC will make an upfront payment of US$50 million and additional payments totaling $450 million based on certain development and operation milestones, as well as royalty payments based on future sales.