SOHU.COM INC. (NASDAQ:SOHU) Files An 8-K Results of Operations and Financial Condition
Item2.02
|
Results of Operations and Financial Condition. |
On June5, 2017, the registrant announced that it has updated its
previously-announced outlook for the second quarter of 2017. A
copy of the press release issued by the registrant regarding the
foregoing is filed herewith as Exhibit 99.1 and is incorporated
herein by reference.
| Item8.01 | Other Events. |
On June3, 2017, the board of directors of the registrant formed a
special committee (the Special Committee), consisting of three
independent and disinterested directors, Dr.Dave Qi, Dr.Zhonghan
(John) Deng, and Mr.Dave De Yang, to review and evaluate a
previously-announced non-binding proposal (the
Proposal) that the board of directors of the registrants
majority-owned subsidiary Changyou.com Limited (NASDAQ: CYOU)
(Changyou) received on May22, 2017 from Dr.Charles Zhang, the
Chairman and Chief Executive Officer of the registrant and the
Chairman of the Board of Changyou, for the acquisition of all
outstanding shares in Changyou, including shares represented by
American depositary shares, by an acquisition vehicle to be
formed by Dr.Zhang.
The Special
Committee expects to retain independent financial and legal
advisors in due course to assist it in the review and evaluation
process.
| Item9.01 | Financial Statements and Exhibits |
| (d) | Exhibits. |
| 99.1 | Press Release dated June5, 2017 |
Safe
Harbor Statement
This report may
contain forward-looking statements. Statements that are not
historical facts, including statements about the registrants
beliefs and expectations, are forward-looking statements. These
statements are based on current plans, estimates and projections,
and therefore you should not place undue reliance on them.
Forward-looking statements involve inherent risks and
uncertainties. We caution you that a number of important factors
could cause actual results to differ materially from those
contained in any forward-looking statement. Potential risks and
uncertainties include, but are not limited to, instability in
global financial and credit markets and its potential impact on
the Chinese economy; exchange rate fluctuations, including their
potential impact on the Chinese economy and on the registrants
reported US dollar results; recent slow-downs in the growth of
the Chinese economy; the uncertain regulatory landscape in the
Peoples Republic of China; fluctuations in the registrants
quarterly operating results; the registrants current and
projected future losses due to increased spending by the
registrant for video content; the possibilities that the
registrant will be unable to recoup its investment in video
content and that Changyou will be unable to develop a series of
successful games for mobile platforms or successfully monetize
mobile games it develops or acquires; and the registrants
reliance on online advertising sales, online games and mobile
services for its revenues. Further information regarding these
and other risks is included in the registrants annual report on
Form 10-K for the year ended December31, 2016, and other filings
with the Securities and Exchange Commission.
The registrant
also cautions you that the Proposal is non-binding and
incomplete, and that neither the Special Committee nor the
special committee appointed by Changyous board of directors to
review and evaluate the Proposal on behalf of Changyou has made
any decision with respect to the registrants or Changyous
response to the Proposal. There can be no assurance that any
definitive offer relating to the Proposal will be made to
Changyou, that any definitive agreement relating to the Proposal
will be entered into by Changyou and by the registrant, or that a
transaction based on the Proposal or any other similar
transaction will be consummated.
About SOHU.COM INC. (NASDAQ:SOHU)
Sohu.com Inc. (Sohu) is an online media, search and game service company providing online products and services on personal computers (PCs) and mobile devices in the People’s Republic of China (the PRC). The Company operates through three segments: the Sohu segment; the Sogou segment, and the Changyou segment. Sogou is an online search, client software and mobile Internet product provider in China. Changyou is an online game developer and operator in China as measured by its MMOG Tian Long Ba Bu (TLBB) and its mobile game TLBB three-dimensional (TLBB 3D), and engages primarily in the development, operation and licensing of online games for PCs and mobile devices. The Sohu segment’s main business is the brand advertising business, which offers to users, over its matrices of Chinese language online media, various content, products and services across multiple Internet-enabled devices. SOHU.COM INC. (NASDAQ:SOHU) Recent Trading Information
SOHU.COM INC. (NASDAQ:SOHU) closed its last trading session down -0.26 at 44.93 with 168,352 shares trading hands.
