Chinese video website Youku.com has announced that it has reached an agreement with the South Korean television station SBS to buy all TV series produced by the TV station.
Youku.com representatives told local media that the company has already bought all existing TV series produced by SBS and it will buy all new TV series of the TV station over the next three years. In addition, Youku.com will buy 1,500 hours of classic programs each year from SBS. The deal will cover a total number of over 6,000 episodes of 200 TV series.
Though Youku.com did not mention the value of the transaction, an insider told local media that it will cost the Chinese video website tens of millions yuan and the company aims to occupy the South Korean TV series market with this large investment.