China's Tencent and Shanda Cloudary merge

China's Tencent and Shanda Cloudary merge

Two Chinese online publishing companies – Tencent Literature and Shanda Cloudary – have announced they are to merge.

The firms will become the Yuewen Group, the country’s largest online publishing and e-book company, reported the South China Morning Post.

In a letter to staff on Monday, Yuewen c.e.o. Wu Wenhui said the company, which has 1,200 employees and more than three million books, expects to attract around 100 million readers a year generating more than 200m yuan.

He also said: "In the future, I hope everyone from an eight-year-old to an 80-year-old will be able to use digital devices – laptop, tablet, smartphone, iWatch or Google Glass – to read whatever they want.”

Wu said Yuewen will need to buy books, develop better reading apps, “promote the creation of online literature and work to strengthen copyright protection for both electronic and print books”, reported the South China Morning Post. Yuewen will also produce “e-book readers designed to satisfy Chinese useage habits, unlike the Amazon Kindle, which was originally designed for English readers”.

Earlier this month it was announced that Tencent Literature had agreed to a major import and export programme of Chinese and English-language e-books with Boston-based Trajectory, Inc.