Youku and Tudou, two leading online video companies in China, announced that the two sides concluded a merger agreement on 11 March. The merger between the two front-runners will be accomplished through a 100% stock-for-stock transaction.
“We intend to lead the next phase of online video development in China,” said Victor Koo, the chairman and chief executive officer of Youku. The two companies, however, have been fierce rivals until recently.
In December 2011, Tudou accused Youku of illegally uploading onto the latter’s website videos of TV programmes exclusive to Tudou, and claimed damages of RMB150 million (US$24 million) from Youku.
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