TikTok owner ByteDance and Chinese media company Shanghai Dongfang Newspaper Co. have launched a new company, Pengpai Audiovisual Technology Co. The new company is said to focus on developing blockchain, AI, and other business lines, according to reports.
The new venture was formed on Dec. 10 with a registered capital of 10 million yuan, 49% of which is controlled by ByteDance.
Shanghai Dongfang Newspaper is controlled by Shanghai United Media Group, which is backed by the Shanghai local government.
This news was first reported by Bloomberg.
Bloomberg News has hired Gabriella Borter as a political breaking news editor in Washington. Borter was at…
The Information is the go-to source of in-depth reporting for the most influential leaders in…
The Fund for American Studies and The Wall Street Journal announced Tuesday that Kate Farmer,…
The parent company of Reuters that is erasing “diversity” references and “clarifying some of [its]…
Conway Gittens, an anchor at TheStreet.com, has left the news organization after a year. He…
Morning Consult and American City Business Journals have launched the Metropolitan Consumer Sentiment Index, a…
![](data:image/svg+xml;charset=utf-8,<svg height="225px" width="225px" xmlns="http://www.w3.org/2000/svg" version="1.1"/>)
![](data:image/svg+xml;charset=utf-8,<svg height="29px" width="180px" xmlns="http://www.w3.org/2000/svg" version="1.1"/>)
![](data:image/svg+xml;charset=utf-8,<svg height="75px" width="75px" xmlns="http://www.w3.org/2000/svg" version="1.1"/>)