Deals
Baidu Buys PPS Online Video Business to Contend With Youku Tudou
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Baidu Inc. said it’s buying PPS Net TV’s Internet video business for $370 million as the owner of China’s largest search engine competes for online viewers with Youku Tudou Inc.
Baidu will merge the business with recently acquired online video unit iQiyi.com, making the platform China’s largest online video site by mobile user numbers and viewing time, according to an e-mailed statement from the company today.