Taipei, Taiwan - Cite Publishers, a unit of Chinese Internet firm Tom Online, announced that it will invest $3.25 million to acquire a majority stake in Pixnet Digital Media, which operates the Pixnet blogging community in Taiwan, DigiTimes reported.

Cite will gain a 90% share of Pixnet, while the company's existing shareholders will retain the remaining 10%.

Cite Publishers vice chairman Fei-peng Ho told DigiTimes Cite will publish bloggers' writings, while readers of books published by Cite will be directed towards Pixnet.

Ho added that Pixnet is expected to grow from 300,000 to 800,000 subscribers by the end of the year, and achieve break-even within two years.

Related Links:
http://www.digitimes.com/systems/a20070321PD204.html

http://www.cite.com.tw/about.php?about=smart

http://www.pixnet.net