Phoenix New Media Announces Strategic Partnership with China Unicom
Phoenix New Media Limited (NYSE: FENG) today announced that it entered into a strategic partnership with China Unicom (NYSE: CHU), China's second largest mobile operator, to offer a "Wo+ifeng" mobile video data package to China Unicom 3G subscribers through ifeng's mobile video application.
This partnership marks the first cooperation between a Chinese telecom carrier and an Internet video news platform in China. Pursuant to the agreement, China Unicom's over 100 million 3G subscribers will be able to consume up to 6GB per month of mobile content through the "ifeng Video" mobile app for a monthly fee of 15 RMB. China Unicom users who choose the "Wo+ifeng" package will also have access to VIP services including ifeng's premium news video programs and documentaries not otherwise accessible. In the near future, the parties also plan to offer differentiated bundled packages to meet diverse user needs and viewing habits for news video content.
Mr. Ya Li, Chief Operating Officer and interim Chief Financial Officer of ifeng, commented at the press conference for the partnership, "Partnering with China's second largest mobile operator further demonstrates our recognized leadership in providing