Could the purchase of Chinese streaming video site PPTV finally be at hand after months of rumors? According to Sina Tech, PPTV and Suning are in the final stages of discussions that, if completed, would see Suning acquire PPTV for around $400 million. This news has yet to be officially confirmed by either company, but is apparently being circulated in China’s investment circles.
Previously, PPTV was linked with a potential buyout by Alibaba and Hunan TV, but that deal seems to have fallen through. Rumor has it that PPTV wasn’t thrilled about the inclusion of Hunan TV in the deal and Alibaba wasn’t willing to pay the full $400 million for the company, but it’s hard to say to what extent that’s true.
If Suning does buy PPTV, it would be an interesting move for the company, but not altogether out of character. Though it started as a brick-and-mortar retail chain and has only gotten seriously into e-commerce in the past few years, Suning announced its plans to become an internet company earlier this year. Buying PPTV would give Suning an immediate foothold in the online video industry, and probably offer some cross-promotional opportunities for its e-commerce platform, too.
(via Sina Tech)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
