BEIJING, July 14, 2017 /PRNewswire/ -- Sohu.com Inc.
(NASDAQ: SOHU), China's leading
online media, video, search and gaming business group ("Sohu" or
the "Company"), today announced that the special committee (the
"Special Committee") of the Company's board of directors has
retained Citigroup Global Markets Inc. as its financial advisor and
Shearman & Sterling as its United
States legal counsel in connection with its review and
evaluation of the previously-announced non-binding proposal (the
"Proposal") that the board of directors of the Company's
majority-owned subsidiary Changyou.com Limited (NASDAQ: CYOU)
("Changyou") received on May 22, 2017
from Dr. Charles Zhang, the Chairman
and Chief Executive Officer of the Company and the Chairman of the
Board of Changyou, for the acquisition of all outstanding shares in
Changyou, including shares represented by American depositary
shares, by an acquisition vehicle to be formed by Dr. Zhang.
The Special Committee is continuing its review and evaluation of
the Proposal. There can be no assurance that any definitive offer
relating to the Proposal will be made to Changyou, that any
definitive agreement relating to the Proposal will be entered into
by Changyou and by the Company, or that a transaction based on the
Proposal or any other similar transaction will be consummated.
Safe Harbor Statement
This announcement may contain forward-looking statements.
Statements that are not historical facts, including statements
about the Company's beliefs and expectations, are forward-looking
statements. Forward-looking statements involve inherent risks and
uncertainties. The Company cautions you that a number of important
factors could cause actual results to differ materially from those
contained in any forward-looking statement.
The Company also cautions you that the Proposal
is non-binding and incomplete, and that neither the
Special Committee nor the special committee appointed by Changyou's
board of directors to review and evaluate the Proposal on behalf of
Changyou has made any decision with respect to the Company's or
Changyou's response to the Proposal. There can be no assurance that
any definitive offer relating to the Proposal will be made to
Changyou, that any definitive agreement relating to the Proposal
will be entered into by Changyou and by the Company, or that a
transaction based on the Proposal or any other similar transaction
will be consummated.
About Sohu.com
Sohu.com Inc. (NASDAQ: SOHU) is China's premier online brand and indispensable
to the daily life of millions of Chinese, providing a network of
Web properties and community based/Web 2.0 products which offer the
vast Sohu user community a broad array of choices regarding
information, entertainment and communication. Sohu has built one of
the most comprehensive matrices of Chinese language web properties
and proprietary search engines, consisting of the mass portal and
leading online media destination www.sohu.com; the interactive
search engine www.sogou.com; the developer and operator of online
games www.changyou.com/en/ and the leading online video Website
tv.sohu.com.
Sohu corporate services consist of online brand advertising on
its matrix of websites as well as bid listing and home page on its
in-house developed search directory and engine. Sohu also provides
multiple news and information service on mobile platforms,
including Sohu News App and mobile news portal m.sohu.com. Sohu's
online game subsidiary, Changyou.com (NASDAQ: CYOU) develops and
operates a diverse portfolio of PC and mobile games, such as
Tian Long Ba Bu ("TLBB"), one of the
most popular PC games in China.
Changyou also owns and operates the 17173.com Website, a leading
game information portal in China.
Sohu.com, established by Dr. Charles Zhang, one of
China's internet pioneers, is in
its twenty-first year of operation.
For investor and media inquiries, please contact:
In China:
|
|
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Mr. Eric
Yuan
|
Sohu.com
Inc.
|
Tel:
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+86 (10)
6272-6593
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E-mail:
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ir@contact.sohu.com
|
In the United
States:
|
|
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Ms. Linda
Bergkamp
|
Christensen
|
Tel:
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+1 (480)
614-3004
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E-mail:
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lbergkamp@christensenir.com
|
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SOURCE Sohu.com