Recently, Le Sports, the subsidiary of online video company LeTV, is reported to have acquired Zhangyu.tv, one of the largest live sports platforms in China. Zhang Xuan, the initiator of the live sports website, will work as the Chief Technology Officer of Le Sports.

As the Chinese source said, after the deal is finalized, Le Sports will make a substantial investment in the platform. The deal will also see Zhangyu.tv, as an independent subsidiary, take advantage of the rich intellectual property resources and provide user-generated content for Chinese people going forward.

Zhangyu.tv is a startup project launched by Qingdao Fengyun Live, a company that focuses on live sports broadcasts and shows. Up to now, the project has attracted more than 5 million active daily users, which earns a monthly revenue of up to RMB 2 million yuan. 

In fact, the interaction between the two sides originates from Zhangyu’s infringement on the copyrights of Le Sports earlier this year. After a friendly dialogue, Le Sports decided to purchase the live sports platform.

Source: jiemian

Proofread by John Devlin.