Disney Led Consortium Set To Buy Stake In Chinese Bus Media Firm (DIS, GOOG)
By Benzinga Staff
February 08, 2010 10:24 AM
February 08, 2010 10:24 AM
According to Techcrunch,, The Walt Disney Company (NYSE: DIS) is leading a consortium of investors which is in advanced talks to buy stakes in Bus Online, which is the leading Chinese digital media and advertising company.
This consortium also includes Google (NASDAQ: GOOG) as a minority investor. This deal will provide Disney a means to promote Mickey Mouse in the vast Chinese market. It is expected that the consortium will take up a 30-40% stake in Bus Online for more than $100 million.
What is odd about Google being a part of this consortium is that the company had, quite recently, threatened to pull out of China on hacking charges.
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