国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

   

Shanda to sell 40% of Sina stake

By Wen Dao (China Daily)
Updated: 2006-11-08 09:00

Shanda, which has significant leadership in the online game market, is trying to extend its presence from online games to an entertainment empire on the Internet, mobile phones and TVs.

Sina is the second most influential news and entertainment site in China after the national broadcaster CCTV and it's holdings were highly distributed. Taking a minority stake in Sina allowed Shanda to control a valuable content asset at a low cost.

However, Sina's board thought the move was a stealth attack to take over and launched a poison pill, which allowed other investors to purchase Sina's shares at half price if Shanda boosted the holdings to 20 per cent.

Meanwhile, Shanda began suffering heavy financial blows due to regulatory control of Internet protocol TV, slow progress in new services, the decline of its flagship games, and fierce competition in the market. These factors caused Shanda's revenues to fall year-on-year for four consecutive quarters.

Now, returning to growth is a top priority for the Shanghai firm, especially since it's expected to announce third quarter financial results on Thursday in the United States.

In October 2004, Shanda issued US$275 million convertible notes at an estimated price of US$39.70 per American depository share, which is redeemable from October 15, 2007.

The urgency to improve its financial performance and the pressure of the possible need to redeem its US$275 million convertible notes make it necessary for Shanda to get some cash.

At the end of June, the online game operator had cash and the equivalent of just US$130 million, said Lu.


 12

(For more biz stories, please visit Industry Updates)



平凉市| 陕西省| 东方市| 汨罗市| 连云港市| 邵武市| 南皮县| 刚察县| 商城县| 盘锦市| 林周县| 抚州市| 大埔区| 清远市| 武邑县| 茂名市| 保德县| 汕尾市| 白城市| 綦江县| 天津市| 济阳县| 永登县| 集贤县| 鄂州市| 英吉沙县| 闽清县| 镇远县| 乐东| 屏南县| 简阳市| 寻甸| 富裕县| 慈利县| 汉中市| 平谷区| 凤城市| 乐清市| 新田县| 蕉岭县| 南川市|