UiTV

Baidu Pays $15 Million for Stake in Chinese IPTV Firm UiTV

Authored by Mark Hefflinger on September 29, 2008 - 8:34am.

Beijing - Baidu (NASD: BIDU), China's leading search engine, announced on Monday that it will contribute assets related to the operation of its own Internet TV channel to Chinese IPTV provider UiTV, in exchange for $15 million and an 8.3% stake in the company.