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China Moves to Tighten Control Over Internet Video Companies
📅 - China may be moving to tighten its control over online video companies following a proposal by China's media regulator. The meeting between the State and video companies took place on May 18 and a written non-binding contract stated the equity sales would be completed by June 10 of this year.
The proposal suggested that video companies, like Syncast Corporations' PPLive and Youku Tudou Inc., sell stakes in equity to the government in amounts of at least 1%. Additionally, China's government would also gain board seats, content control, and a hand in company matters from the proposal.
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