Baidu to buy JOYY's live streaming unit in China for $3.6b

Baidu to buy JOYY's live streaming unit in China for $3.6b

Photographer: Bloomberg

China’s Baidu Inc reported third-quarter revenue above market expectations on Monday and said it would buy social media platform JOYY Inc’s video-based live streaming business in China for about $3.6 billion (£2.7 billion).

The company said through the deal it aims to diversify its revenue source, the bulk of which comes from ad sales on its core search engine platform.

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