Consolidation seems to be rampant in the Chinese media market. Phoenix New Media Limited ( FENG , quote ) and internet company Qihoo 360 Technology Co. ( QIHU , quote ) have announced a plan to offer users seamless access to Phoenix New Media's premium content through Qihoo 360's multi-platform products.
[caption align="alignright" caption="China eagerly awaits the new Angry Birds game."]
The deal is Qihoo 360's second major content deal in a week. On March 9, the company announced that it had obtained exclusive rights to launch Angry Birds Space in China.
Phoenix New Media, China's fourth largest Internet portal by time spent, is the first media partner to offer Qihoo 360's over 400 million users access to the company's premium news content. Phoenix New Media will provide content from its portal website directly to Qihoo's 360 Browsers and 360 Desktop.
Phoenix New Media will also provide breaking news and other media updates to 360 Desktop users through tailored applications and push notifications.
President of Qihoo 360 Xiangdong Qi commented, "We are pleased to partner with Phoenix New Media, leveraging its strong media DNA and editorial capabilities to provide our audience a balanced perspective on real-time global news and in-depth featured stories."
Qihoo 360 trades briskly in the United States, but investors may also be interested in the Global X NASDAQ China Technology ETF ( QQQC , quote ), which devotes 2.69% of its holdings to QIHU.
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