Baidu Announces Acquisition of Providence Equity Partners' Stake in iQiyi
BEIJING, Nov. 2, 2012 /PRNewswire/ -- Baidu Inc. (NASDAQ: BIDU), the leading Chinese language Internet search provider, today announced that it has reached a definitive agreement with Providence Equity Partners ("Providence") pursuant to which Baidu will purchase shares of iQiyi.com ("iQiyi") held by Providence for an undisclosed amount. Upon completion, Baidu will have a substantial majority stake in
BEIJING, Nov. 2, 2012 /PRNewswire/ -- Baidu Inc. (NASDAQ: BIDU), the leading Chinese language Internet search provider, today announced that it has reached a definitive agreement with Providence Equity Partners ("Providence") pursuant to which Baidu will purchase shares of iQiyi.com ("iQiyi") held by Providence for an undisclosed amount. Upon completion, Baidu will have a substantial majority stake in
