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Baidu to Buy Chinese Live Video Service YY for $3.6 Billion

By Juro Osawa
· · Source: The Information

Chinese search provider Baidu has agreed to buy Chinese live-streaming service YY for about $3.6 billion in cash from its owner Joyy, the companies said. The deal is Baidu’s latest attempt to find a new source of revenue growth, after the company’s previous costly expansion into on-demand services and food delivery failed. Baidu, which earns the bulk of its revenue from advertising, faces...

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