Chinese Government Taking Stakes in China’s Top Video Streaming Platforms, Says Report

The mainland Chinese government is understood to be taking small, but significant, share stakes in at least two of the country’s leading video streaming platforms. The Financial Times reported on Friday that the Cyberspace Administration of China has acquired a 1% stake in a Guangzhou-based digital media subsidiary of Alibaba that includes Youku, China’s third ranked generalist video streamer, and UC Web, an internet browser developed for mobile users. A corporate vehicle controlled by the CAC appeared on the unit’s share register on Jan. 4. The paper reported that the CAC is also in the process of taking a similar… Read Full Article