Baidu is in talks to buy online video firm PPS Net TV as the Chinese search giant looks to expand its web presence, according to a new report.
Citing sources close to the deal, China Business News said the deal could value PPS Net TV at betwen $350-$400 million.
Late last year Baidu acquired a majority stake in its loss-making online video unit, iQiyi. China’s online video industry is hyper-competitive and content costs are expensive.
When acquired, PPS and iQiyi will continue to operate as independent brands, but will share back-end technical integration, the newspaper reported.
To date, Baidu has declined to respond to the report.