Investors Approve Youku-Tudou Merger

HONG KONG: The planned merger of two of the largest online video companies in China, Youku and Tudou, has passed shareholders’ approval. 

The proposed combination was unveiled back in March. Youku’s investors passed all resolutions needed in a meeting earlier today. Shareholders at Tudou approved the merger in a separate meeting. The combined outfit, Youku Tudou, will help reduce content licensing and network costs, Youku said in March, leading to savings of as much as $60 million annually.