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Sohu Wants to Privatize Nasdaq-Listed Gaming Company Changyou

By Zhao Runhua / Sep 09, 2019 05:27 PM / Business & Tech

Photo: VCG

Photo: VCG

Chinese media giant Sohu has proposed taking Nasdaq-listed gaming company private, thus making it a wholly owned subsidiary, Sohu announced Monday.

Sohu is already a major shareholder of Changyou, and holds all of the latter’s outstanding Class B ordinary shares. Sohu expects to purchase all of Changyou’s outstanding Class A ordinary shares, including those represented by American Depositary Shares (ADSs) it has yet to purchase, at $5 per Class A ordinary share, or $10 per ADS, in cash.

The proposal is pending Changyou’s consideration, and might involve further negotiations between the two companies. If Changyou accepts the proposal, it will delist from the Nasdaq upon the deal’s completion. Sohu asserted in the proposal that it has informed Changyou that it is not interested in selling Changyou shares or engaging in other transactions involving Changyou.

Facing fierce industry competition and increasingly stringent gaming-license policies, Changyou is under monetization pressure. According to the company’s financial results for the second quarter of 2019, Changyou’s overall revenue and profit both saw quarterly declines.

Changyou’s shares on the Nasdaq have risen more than 50% during pre-market trading as of Monday morning New York time.

Contact reporter Zhao Runhua (

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