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Chinese Streamer iQiyi Seeks Funding as it Blocks Ukraine Coverage, Courts Controversy Over Korean Drama

Chinese Streamer iQiyi Seeks Funding as it Blocks Ukraine Coverage, Courts Controversy Over Korean Drama

Chinese streaming video platform iQiyi has announced plans to raise $285 million from a private placing of shares, part of which will be taken up by parent company Baidu.

The move comes in the same week that the Nasdaq-listed company said it was suspending its weekend live broadcasts of English Premier League football (soccer) due to the sport’s public displays of solidarity with Ukraine.

iQiyi is understood to have informed the Premier League that it would be removing the coverage following the league’s announcement that a “moment of reflection and solidarity” would be held before matches at the weekend. Several teams also displayed armbands in the blue and yellow colors of the Ukrainian flag. In other instances, pro-Ukraine messaging was visible on in-stadium advertising boards.

It is not clear whether the company was instructed by the Chinese government to halt broadcasts or whether the move was an act of

See full article on Variety