ByteDance and Chinese Digital Publisher Considering Long-term Cooperation
COL Digital Publishing has signed a 'Framework Cooperation Agreement' with ByteDance.
On July 16, COL Digital Publishing (300364: SHE) signed (in Chinese) a ‘Framework Cooperation Agreement’ with ByteDance. The two sides laid out terms for long-term cooperation and development, in fields including the ecosystem creation for liverstreamers, joint construction of audio content, digital copyright authorization of novel platforms and others.
It is reported that specific cooperation agreements have not yet been signed on some cooperation matters, and some cooperation topics still have uncertainty. If the following disclosure requirements are met, the company will promptly perform the corresponding disclosure obligations.
Because this cooperation event may cause the company's stock price to fluctuate, the company adopted strict confidentiality measures during the negotiation to limit the scope to trusted insiders.
Also, COL Digital Publishing stated that, on July 15, it received a written notice from the company's shareholders holding more than 5% of the shares of TusHoldings. TusHoldings intended to transfer some of its shares by publicly soliciting the transferee. The transfer didn't exceed 72.7295 million shares, and the proportion didn't exceed 10% of the company's total share of capital.