Friday, March 30, 2012

Ku6 (Nasdaq: KUTV) ties up with Channel V, shares rise

Ku6 (Nasdaq: KUTV) ties up with Channel V, shares riseOrlando, FL 3/30/12 (StreetBeat) – Chinese online video portal Ku6 Media Co Ltd (Nasdaq:KUTV) said it signed an agreement with satellite television company Star China to launch Channel V's online channel on Ku6's platform, sending its shares up 18 percent in morning trade on Friday.

The company said the online channel will feature the international music channel's current and upcoming music entertainment programs in China. Ku6 will be responsible for non-content operations of the channel.

"This will strengthen our position in the online music entertainment area," Ku6 Chief Executive Jeff Shi said in a statement.

Ku6 shares were up 14 percent at $2.36 on Friday morning on the Nasdaq. They rose to $2.45 earlier in the session.

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