• China's iQiyi to offer $500M convertible note as content costs balloon

    19 days ago - By Tech Crunch

    Chinese video streaming service iQiyi is raising new cash as it feels the squeeze from surging content costs.
    The video business, which is owned by China's online search giant Baidu, said on Wednesday that it will issue $500 million in convertible senior notes. Proceeds from the offering will go towards content and technology investments as well as capped call transactions to reduce potential dilution to shareholders upon conversion of the notes.
    The proposal arrived just eight months after iQiyi pulled in $2.25 billion from an initial public offering on NASDAQ that marked one of the...
    Read more ...