ByteDance

The deal will see Huanxi’s new drama series and movies release on Bilibili.

The sale of TikTok’s US operations might need approval from Chinese authorities in order to proceed.

The buyer is likely to be a Microsoft-Walmart consortium or Oracle, according to sources.

JioSaavn’s local competitor Gaana launched its own short-video app HotShots in July.

ByteDance has been developing its search engine business since early last year, unveiling a mobile search portal, Toutiao Search, last August and a standalone search app this February.

The paradox of big guys getting big cheques hands-down while financing in general is getting harder to come by in China.

The embattled short video app is suing the Trump government over the recent US sanction.

ByteDance said it attempted to communicate with the US administration for nearly a year, but encountered a lack of due process as the US government did not pay attention to the facts.