Baidu acquires online video business of PPS for $370M Baidu announced the acquisition of the online video business of Internet video provider PPS for $370M. Baidu and PPS expect the transaction to close in Q2. Upon completion of the transaction, the PPS online video business will be consolidated into Baidu's financial statements. PPS's online video business will be merged with Baidu's own video platform iQiyi. The combined entity will become China's largest online video platform by number of mobile users and video viewing time. PPS will continue to operate as a sub-brand of iQiyi.