Caixin
Jun 16, 2022 08:27 PM
TECH

IQiyi Denies Baidu Is in Talks to Sell Majority Stake

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Video streaming platform iQiyi Inc. has disputed news reports that its parent Baidu Inc. is in talks to sell its entire stake in the Beijing-based company, calling them “not true” and “purely a rumor” in response to questions from Caixin. Baidu declined to comment.

Reuters reported Wednesday that search giant Baidu was in talks to sell its 53% stake in iQiyi in a deal that valued the Netflix-like platform at roughly $7 billion.

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