China search giant Baidu launches $303m media fund
Baidu, China's leading internet search provider, has set up a RMB2 billion ($303 million) fund that will support the production of at least 30 movies over the next two years.
The vehicle, which will be managed by Baidu's subsidiary Baidu Nuomi Pictures, will invest in animated and live action films, as well as productions targeting Chinese youth, Yongming Xu, Baidu Nuomi's...
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