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Chinese company has a plan on ivi.ru and Megogo

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The Russian Federation and China entered into agreement to establish favorable conditions for video content distribution.

The edition “Vedomosti”, referring to its sources, reports that the company LeEco, a well-known Chinese electronics manufacturer, also engaged in promoting video content, is interested in acquiring two video services ivi.ru and Megogo.

The company LeEco and the production studio LeVision Pictures entered a document with the Russian party, stipulating for the assistance in distributing video products over the partner country’s territory. For the Russian Federation, the agreement was signed by the Internet Development Institute, the Russian Export Center, and the Digital Television Association.

Victor Xu, Head of LeEco in Russia and Eastern Europe, affirmed the company’s intentions to invest millions of dollars in the Russian telecommunications industry and to have its own online cinema. According to the market experts’ expectations, the LeEco may invest some 100-200 million dollars in Russian assets this year. In general, the experts believe that this cooperation will positively affect the perception of Russia abroad.

The originator of the Chinese company LeEco (also called the “Chinese Netflix”) was Jia Yueting in 2004. The company owns a large library accounting for some 100 thousand TV series and 5 thousand movies.

The acquisition of ivi.ru and Megogo will allow the LeEco to carry out a smooth entry into the Russian online video market, which has been discussed within the industry since April this year.

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