Reuters was first to report that China’s internet search engine giant Baidu is in talks to sell its controlling stake in iQIYI, China’s answer to Netflix, in a deal that could value all of iQIYI at about $7 billion. Baidu, which owns 53% of iQIYI and holds more than 90% of its shareholder voting rights, plans to sell all its holdings in the Chinese video streaming services firm.
The post Reuters reveals Baidu in talks to sell majority stake in iQIYI, China’s answer to Netflix appeared first on Reuters News Agency.
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