Published on Mon, Feb 08, 2010 at 15:34 | Source : Reuters
Updated at Mon, Feb 08, 2010 at 17:10
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Disney, Google eye deal with China bus media firm
A consortium led by Walt Disney Co is in advanced talks to buy into China's largest in-bus digitial media and advertising company, a deal that could offer the US entertainment giant a new platform to promote the Mickey Mouse in China, sources said.
A consortium led by Walt Disney Co is in advanced talks to buy into China's largest in-bus digitial media and advertising company, a deal that could offer the US entertainment giant a new platform to promote the Mickey Mouse in China, sources said.
Google Inc, the world's No.1 Internet search company, which threatened to quit China last month over censorship and hacking concerns, is among investors in the Disney-led consortium, the sources said on Monday.
The Disney-led consortium planned to buy a stake of between 30 and 40% in Bus Online for more than USD 100 million via a purchase of old and new shares to be issued by the company in private placements, said the sources.
The sources briefed on the possible deal declined to be identified as the negotiation process is confidential. Bus Online, headquartered in Shanghai, declined to comment.
A Google spokeswoman said the company could not immediately comment. Disney could not be immediately reached for comment.
