Information Times
Shanghai Media Group subsidiary BesTV New Media has announced in a regulatory filing that the company is engaged in preliminary negotiations with Shanghai-based online game developer and operator Qifan Digital Technology (7FGame) over the possible acquisition of 7FGame.
7FGame is asking for a sale price of RMB 2.7 bln (around $440 million), according to the filing. Established in 2006, 7FGame specializes in the development and operation of online games as well as gaming platform services. Its products include 7fgame.com, 5211game.com, cga.com.an and two famous games originated from Chinese history stories. Cga.com.cn was acquired by Shengda Games in 2004 and was sold to Zhejiang Daily Media for RMB3.2 billion early this year.