Netizen reaction mixed to Youku, Tudou deal
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E-mail People's Daily, March 14, 2012
China's two largest online video companies Youku.com and Tudou.com will merge to forge a combined entity named Youku Tudou Inc.
Once the deal is completed, Youku shareholders and holders of American depositary shares (ADS) will win about 71.5 percent of the new entity, and Tudou will get the remaining 28.5 percent.
Despite cheer, some Chinese netizens showed their worries about the potential problem of monopoly after this China's biggest internet industry deal was officially announced on Monday.
A person nicknamed Imx wrote on smth, one of China's biggest bulletin board systems, "We need to protest against monopoly. In the past, I would turn to Tudou when Youku didn't work, and vice versa. However, after acquisition, there will be no alternative."
"Don't imagine the businessmen are of conscience. They are only concerned about profits and developments for themselves," a user named csheng520 commented on Sina Weibo, China's twitter-like service.
"Youku and Tudou used to be incompatible as fire and water. However, it is suddenly announced that rivalries will 'get married'. A number of people start to express their belief of love," a viewer made a joke in the message on Youku's website. Another commented, "Youku and Tudou will benefit from each other, but their competitor will suffer."
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