LeTV Changing Channels, Pushing for Investors

(Beijing) – An Internet media company controlled by one of China's richest men is eagerly seeking investors to back new and dramatically different forays into smartphones and electric car manufacturing.

Billionaire Jia Yueting's Leshi Internet Information & Technology Corp., the Shenzhen-listed media and TV-video-movie content integrator better known as LeTV, needs investor support for a business overhaul now that the government has refused to license its television-through-Internet-platform services.