The9, Qihoo 360 form joint venture The9 (NCTY) announced that The9 and Qihoo 360 (QIHU) entered into an agreement to form a joint venture. Pursuant to the joint venture agreement, The9 and Qihoo 360 will each own 50% equity interest in the joint venture and share profits according to this ratio. The9 and Qihoo 360 agreed that the joint venture will publish and operate Firefall, a game developed by a subsidiary of The9, for a three-year term in China and may be renewed for additional two years upon satisfaction of certain conditions. The license and distribution agreement will be signed separately between the joint venture and the developer.
Stocks with call strike movement; PBR QIHU Petrobras (PBR) November 19 call option implied volatility increased 4% to 50, Qihoo 360 (QIHU) December 115 call option implied volatility decreased 2% to 49 according to IVolatility.