BEIJING, Aug. 25 /PRNewswire-Asia/ -- Sohu.com Inc.
(Nasdaq: SOHU), China's leading
online media, communications, search, online games and wireless
value-added services group, today announced that its massively
multi-player online role-playing game ("MMORPG") subsidiary,
Changyou.com Limited ("Changyou") (Nasdaq: CYOU) recently signed an
agreement with a property developer to purchase an office building
to be built in Beijing for total
cash consideration of approximately US$146
million. Changyou plans to pay the purchase price using its
cash reserve, and is to pay for the building in installments upon
completion of various milestones. The building is expected to have
an office and ancillary area of approximately 56,200 square meters,
and is to serve as Changyou's headquarters. Under the agreement,
the developer is to start construction in the first half of 2011,
subject to necessary permits being obtained, and is expected to
complete construction and deliver the building to Changyou by the
end of 2012. The agreement calls for Changyou and the developer to
enter into a detailed purchase and sale agreement after the
developer has finished obtaining all governmental permits necessary
to permit the development and sale of the building.
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"The active scouting and hiring of talent is the building block
of every growing online games company. To capitalize on the many
emerging business opportunities present in the online games
industry in China today, we have
plans to continue growing our business and our talent pool,"
commented Mr. Dewen Chen, Changyou's
president and chief operating officer. "The new office building is
intended to accommodate the growth of our team of game engineers
and operational staff for the next few years as we implement our
business expansion plans. In addition, the centralized office is
expected to enhance our ability to execute our core strategies
efficiently as we work to further advance our leading position in
the industry."
About Changyou
Changyou.com Limited's massively multi-player online
role-playing games ("MMORPG") business began operations as a
business unit within Sohu.com Inc. (NASDAQ: SOHU) in 2003.
Changyou, a leading developer and operator of online games in
China, was carved out as a
separate, stand-alone company in December
2007, and completed an initial public offering on
April 7, 2009. Changyou currently
operates five online games, including the in-house developed
Tian Long Ba Bu, one of the most
popular online games in China, and
the licensed Blade Online, Blade Hero 2, Da Hua Shui Hu and
Zhong Hua Ying Xiong. Changyou has a
diversified pipeline of games with various graphic styles and
themes, including the licensed Immortal Faith, Legend of the
Ancient World, and the in-house developed Duke of Mount Deer, which
received an award as one of China's most anticipated online games.
Changyou's advanced technology platform includes advanced 2.5D and
3D graphics engines, a uniform game development platform, effective
anti-cheating and anti-hacking technologies, proprietary
cross-networking technology and advanced data protection
technology. For more information about Changyou, please visit
http://www.changyou.com/en/ .
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; interactive search
engine www.sogou.com; #1 games information portal www.17173.com;
the top real estate website www.focus.cn; #1 online alumni club
www.chinaren.com; wireless value-added services provider
www.goodfeel.com.cn; leading online mapping service provider
www.go2map.com; and developer and operator of online games
www.changyou.com.
Sohu corporate services consist of brand advertising on its
matrix of websites as well as paid listing and bid listing on its
in-house developed search directory and engine. Sohu also offers
wireless value-added services such as news, information, music,
ringtone and picture content sent over mobile phones. Sohu's
massively multiplayer online role-playing game (MMORPG) subsidiary,
Changyou.com (NASDAQ: CYOU), currently operates five online games,
including Tian Long Ba Bu, one of
the most popular online games in China, and the licensed Blade Online, Blade
Hero 2, Da Hua Shui Hu and Zhong Hua Ying
Xiong. Sohu.com, established by Dr. Charles Zhang, one of China's internet pioneers, is in its
fourteenth year of operation.
Safe Harbor Statement
This announcement contains forward-looking statements.
Statements that are not historical facts, including statements
about Sohu's beliefs and expectations, are forward-looking
statements. These statements are based on current plans, estimates
and projections, and therefore you should not place undue reliance
on them. Forward-looking statements involve inherent risks and
uncertainties. We caution you that a number of important factors
could cause actual results to differ materially from those
contained in any forward- looking statement. Potential risks and
uncertainties include, but are not limited to, the current global
financial and credit markets crisis and its potential impact on the
Chinese economy, the slower growth the Chinese economy experienced
during the latter half of 2008 and in 2009, which could recur in
the future, the uncertain regulatory landscape in the People's Republic of China, fluctuations
in Sohu's quarterly operating results, and Sohu's reliance on
online advertising sales, online games and wireless services (most
wireless revenues are collected from a few mobile network
operators) for its revenues. Further information regarding these
and other risks is included in Sohu's annual report on Form 10-K
for the year ended December 31, 2009,
and other filings with the Securities and Exchange Commission.
For investor and media inquiries, please contact:
In China:
Ms. Li Mei
Sohu.com Inc.
Tel: +86-10-6272-6596
Email: ir@contact.sohu.com
Mr. Chen Yuan Yuan
Christensen
Tel: +86-10-5971-2001
Email: ychen@ChristensenIR.com
In the United States:
Mr. Jeff Bloker
Christensen
Tel: +1-480-614-3003
Email: jbloker@ChristensenIR.com
SOURCE Sohu.com Inc.
Copyright . 25 PR Newswire