The online video market in China is a fragmented scene led by national businesses where companies like YouTube don't even get a look in; but today sees that market move one step closer to consolidation, with the news that the two largest video portals, Youku and Todou, will be merging in an all-stock deal, to take control of nearly half the online video market in the country. The merger caps off a period of intense rivalry between the two companies, which included spars over TV rights and the ability to index each other's content on respective sites. Now, it seems all that is water under the bridge: the companies say that the new company will be known as Youku Todou, and shareholders in Youku will own 71.5 percent, while Todou shareholders will have 28.5 percent.Source: http://feedproxy.google.com/~r/Techcrunch/~3/gPywGNkHj5s/
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