Youku Trading Higher on Content Deal with Twentieth Century Fox

The shares Youku

, a Chinese online video site, are trading higher pre-market after the company announced a content deal with Twentieth Century Fox earlier today. Under the terms of agreement, Youku will license 250 titles of new release and library films. Youku also announced that the number of pay-per-view transactions on Youku Premium grew more than 200% between the second and third quarters of 2011. Huilong Zhu, VP of Movie Operations and Corporate Development at Youku stated: "We are encouraged by the growth of the Youku Premium platform, and our new licensing agreement with Fox will make Youku Premium more compelling for our users." Youku is currently trading at $18.60, up $1.70 or 10.06% pre-market.