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

China / Business

LeEco talks 'to give up' soccer rights

By Ma Si (China Daily) Updated: 2017-02-17 13:44

Move latest in efforts to reduce pressure on cash-strapped group

Chinese internet major LeEco is reportedly in talks to give up the exclusive online broadcasting rights to the country's top soccer competition, as the cash-starved company continues work on recovering its financial position.

The group's LeSports unit is in discussions to abandon the broadcasting rights for the Chinese Super League's 2017 season, local media outlet The Paper reported on Thursday.

Last February LeSports signed a strategic partnership agreement with events broadcast firm Ti'ao Power, for the Chinese Super League.

LeSports said it would spend 2.7 billion yuan ($414 million) on the two-season exclusive rights, but after testing the waters for a year it realized the deal would not bring sufficient profits in the short term, The Paper quoted an anonymous source as saying.

LeEco talks 'to give up' soccer rights

LeSports on Thursday declined to comment.

Earlier this week, LeEco announced it had organized a fresh capital injection. That was after Chinese electronics firm Truly Electronics agreed to acquire a 2.3 percent stake in LeEco Zhixin Electronic Technology Co Ltd, a smart TV unit in LeEco, for 720 million yuan.

After the deal, LeEco remained the biggest shareholder with a 39.4 percent stake.

The decreased interest in the Chinese Super League indicated that the latest investment infusion was still not enough to support LeEco's huge ambitions, said Lu Zhenwang, CEO of the Shanghai-based Wanqing Consultancy.

"It is throttling back on a slew of its business plans. But these moves have failed to give a big boost to LeEco's stock price," Lu said.

Started in 2004, LeEco's businesses range from video streaming, smartphones, TV, internet financing to cloud computing.

But it has been facing a cash crunch since last November after its founder, Jia Yueting, admitted in public that the company's expansion efforts had gone too far.

In January, LeEco raised $2.2 billion from Sunac China Holdings Ltd, a Hong Kong-listed real property developer, in a move to head off its financial woes.

Shen Meng, director of Chanson & Co, a boutique investment bank, said Truly Electronics was a key supplier of electronic components to LeEco.

masi@chinadaily.com.cn

Highlights
Hot Topics

...
泰兴市| 凤山市| 梅州市| 广水市| 通山县| 阿鲁科尔沁旗| 秦安县| 边坝县| 郸城县| 太仓市| 庄浪县| 大悟县| 扎兰屯市| 教育| 安龙县| 永康市| 留坝县| 太湖县| 宽城| 凤凰县| 广宗县| 柘城县| 晋州市| 新泰市| 兴海县| 建宁县| 佛坪县| 抚顺市| 鹤山市| 张掖市| 大丰市| 晴隆县| 山西省| 沅陵县| 称多县| 桦甸市| 平舆县| 昌都县| 隆化县| 盱眙县| 崇义县|