- A Reuters report says search engine giant Baidu is considering selling the recently profitable iQIYI platform with a target price of $7 billion.
- iQIYI denied the report. But it could make sense for Baidu to divest from video streaming to sharpen its focus on cloud services, AI and self-driving products.
- Facing challenges from a government crackdown on the Internet sector, Baidu started to lay off people last year especially employees in its livestreaming and gaming operations.
For further details see:
Despite iQIYI Denial, Is Baidu Set To Roll Credits On Its Video Affiliate?