Chinese Internet giant Baidu has spun-off its video search unit.
中国互联网巨头百度公司宣布分离其视频搜索业务。
Shanghai New Culture Media Group is investing one billion yuan in Baidu's video search division, which is now going to be called Xiaodu Interactive Entertainment and Technology.
The new company is going to be used as a distibution firm for movies and TV shows.
Baidu video unit claims to have over 580 million videos and over 300 million mobile users in total.
Last June, Baidu launched the so-called "Aircraft Carrier" project, opening up a series of businesses for outside investment.
Earlier, its food delivery service Baidu Waimi also became an independent after receiving outside funding worth 200 million US dollar.
