Earlier this month, Chinese online video website Ku6.com announced it was downsizing staff by up to 20%. But now local media reports state those layoffs are not legal.

Chinese online video and television services company Ku6 Media Company Ltd. today announced its unaudited financial results for the first quarter of fiscal year 2011, and said that sequential quarterly revenue slightly dropped.

Chinese Internet video website Ku6.com has announced that to simplify operations, control costs, and improve efficiency, the company has decided to restructure its sales department.

Ku6 Media Company Ltd., the Internet video subsidiary of Shanda Interactive Entertainment Limited, has announced that the shareholders of Pipi.cn, a leading P2P Internet video platform in China, have agreed to sell all shares to Ku6 in exchange for 2,212,114,257 Ku6 ordinary shares.

Chinese Internet video company Ku6.com has announced that Li Shanyou, founder and chief executive officer of Ku6.com, has resigned for career development reasons; however, he will still be director of the company and will offer operational guidance for Ku6.com.

Huanqiu.com, the website sponsored by Global Times, has confirmed to Chinese media that it will cooperate with the Internet video website Ku6.com to launch a new online movie channel.

China's Xinhua News Agency and Shanda Interactive Entertainment Limited have signed a comprehensive strategic cooperation framework agreement for media cooperation.

China-based Ku6 Media Company Ltd., which previously flew its technology media brand under the name Hurray Holding, announced that its net loss narrowed as it presented unaudited financial results for the third quarter ended September 30, 2010.

China's Ku6 Media Company Ltd., which boasts a new focus on Internet video services after dumping its poor wireless services offerings and its old name of Hurray, today announced its unaudited financial results for its second quarter ended June 30, 2010.

Chinese online game firm Shanda Interactive Entertainment Limited announced that it has completed its business swap with Ku6 Media Company Limited.

Hurray, a subsidiary of the Chinese media and game company Shanda Interactive Entertainment Limited, has announced that it will sell its music and wireless value-added businesses to the parent company.

Chinese video website Youku.com is riding the Chinese online video bubble with an announcement that it has just completed its latest round of financing and gained USD40 million from private equity firms.

The rumors from last week are correct: Chinese online video service Ku6.com has been purchased by Shanda's wireless subsidiary Hurray! Holding Company Ltd.

Citing unnamed sources, various Chinese media are reporting that Chinese online game operator Shanda Interactive Entertainment Limited will announce the acquisition of video website Ku6.com this weekend during the company's tenth anniversary.

CCTV.com and Phoenixtv.com have together formed an alliance for the protection of the copyrights of online video programs in China.