Key Developments: Baidu Inc (BIDU.O)
96.30USD
18 Jun 2013
$-0.46 (-0.48%)
$96.76
$96.25
$97.33
$96.01
3,290,853
4,035,529
$134.71
$82.98
Latest Key Developments (Source: Significant Developments)
Baidu Inc Acquires Online Video Business Of PPS
Baidu Inc announced the acquisition of the online video business of Internet video provider PPS for USD370 million. Baidu and PPS expect the transaction to close in the second quarter of 2013. Upon completion of the transaction, the PPS online video business will be consolidated into Baidu's financial statements. PPS's online video business will be merged with Baidu's own video platform iQiyi. After the acquisition, Gong Yu will continue to be CEO of iQiyi. Zhang Hongyu and PPS president Xu Weifeng will serve as co-presidents at iQiyi, and will be in charge of the PPS sub-brand and new business development Full Article
Baidu Inc Issues Q2 2013 Revenue Guidance In Line With Analysts' Estimates
Baidu Inc announced that for second quarter of 2013, it expects revenues in an amount ranging from RMB7.370 billion ($1.187 billion) to RMB7.550 billion ($1.216 billion). According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenues $1.203 billion for the second quarter of 2013. Full Article
Baidu Inc To Acquire Online Video Firm For Near $400 Million-Reuters
Reuters reported that Baidu Inc is in the process of acquiring Chinese online video firm, PPS Net TV, for between $350-$400 million, China Business News reported on April 25, 2013. When acquired, PPS and iQiyi will continue to operate as independent brands, but will share back-end technical integration, the newspaper reported. A Baidu spokesman declined to comment and a PPS spokesperson could not be reached for comment. Full Article
Baidu Inc Issues Q1 2013 Revenue Guidance In Line With Analysts' Estimates
Baidu Inc announced that for the for the first quarter of 2013, it expects total revenues in an amount ranging from RMB5.890 billion ($945.4 million) to RMB6.080 billion ($975.9 million). According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenues $963.7 million for the first quarter of 2013. Full Article
Baidu Inc Announces Pricing Of USD1,500,000,000 Notes Offering
Baidu Inc announced the pricing of its public offering of USD1,500,000,000 aggregate principal amount of its notes. The public offering consists of USD750,000,000 of 2.250% notes due 2017 and USD750,000,000 of 3.500% notes due 2022. The notes have been registered under the U.S. Securities Act of 1933, as amended, and are expected to be listed on the Singapore Exchange Securities Trading Limited. The Company expects to receive net proceeds from the offering of approximately USD1,491.6 million, after deducting underwriting discounts and commissions and estimated net offering expenses. The Company intends to use a portion of the net proceeds from the offering to retire certain existing debt and the remainder for general corporate purposes. The joint bookrunners of the offering are J.P. Morgan Securities LLC and Goldman Sachs (Asia) L.L.C. Full Article
Baidu Inc Proposes Debt Offering
Baidu Inc announced that it has filed an automatic shelf registration statement on Form F-3 with the United States Securities and Exchange Commission (the SEC), and a preliminary prospectus supplement under the registration statement, pursuant to which the Company proposes to sell senior notes which will be issued in two tranches. The Company intends to use a portion of the net proceeds from the offering to retire certain existing debt and the remainder for general corporate purposes. The joint bookrunners of the offering are J.P. Morgan Securities LLC and Goldman Sachs (Asia) L.L.C. Full Article
Baidu Inc Announces Acquisition Of Providence Equity Partners' Stake In iQiyi.com
Baidu Inc 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 iQiyi. Financial terms were not disclosed. Full Article
Baidu Inc Issues Q4 2012 Revenue Guidance Below Analysts' Estimates
Baidu Inc announced that for the fourth quarter of 2012, it expects to generate total revenues in an amount ranging from RMB6.155 billion ($979.3 million) to RMB6.345 billion ($1.010 billion). According to I/B/E/S Estimates, analysts were expecting the Company to report revenues of $1.029 billion for the fourth quarter of 2012. Full Article
Baidu, Inc. Issues Q3 2012 Revenue Guidance
Baidu, Inc. announced that it currently expects to generate total revenues in an amount ranging from RMB6.245 billion ($983.0 million) to RMB6.410 billion ($1.009 billion) for the third quarter of 2012. Full Article
Baidu, Inc. Issues Q2 2012 Revenue Guidance In Line With Analysts' Estimates
Baidu, Inc. announced that for the second quarter of 2012 it expects to generate total revenues in an amount ranging from RMB5.335 billion ($847.2 million) to RMB5.460 billion ($867.0 million). According to I/B/E/S Estimates, analysts were expecting the Company to report revenues of $862 million for the second quarter of 2012. Full Article
Censorship lawsuit against Baidu and China gets new life in U.S.
- A U.S. judge has given a lawsuit by pro-democracy activists against Baidu Inc and the People's Republic of China new life, even after the country invoked its authority as a sovereign nation to block the censorship case.
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