116.com.cn: acquiring web news license, preparing for sales

DoNews（Beijing） Jan. 22nd (reporter Xu xinshi):

It is reported that the first broadband portal website (www.116.com.cn) in China has acquired Internet news information service license permitted by the State Council Information Office.

116.com.cn was founded at the beginning of 2004 with 500M registered capital. Chinanetcom accounted for 40% of the registered capital and IDG occupied 30% of that. But then Chinanetcom withdrew investment gradually for the confliction of own broadband business since Mar 31st 2006.

At the beginning of 2006, Shanda wanted to obtain the IPTV license plate indirectly through acquiring 116.com.cn when it implete the "shanda box"
business plan.

It is said that there are totally three weibsites get the Internet news licenses, plus baidu and hexun. The news will be annouced by the State Council Information Office later.