Chinese Government Demands Weibo Cease Streaming Video Services

Stock futures managed narrow gains ahead of Thursday's open as the major indexes looked to add to the week's gains

Stock futures managed narrow gains ahead of Thursday's open as the major indexes looked to add to the week's gains

Three popular Chinese internet services have been ordered to stop streaming video after censors complained it contained improper comments about sensitive issues.

"This will provide a clean and clear Internet space for the wide number of online users", the State Administration of Press, Publication, Radio, Film and Television said in a brief statement on its website.

Weibo Corp said it was communicating with relevant government authorities to understand the scope of the notice and will also evaluate the impact of the government's move on its operations and its administrative options.

Overnight, Weibo's shares dropped 5% on the news, which further shows that company fundamentals often take a backseat to the whims of the government.

The "regulatory environment is becoming more rigid, amid the rapid development of content such as live-broadcasting and short videos", China International Capital Corp. analysts led by Natalie Wu told clients in a note. This means the only way for private companies to acquire the certificate is to buy a company that already has the certificate.

Google is ending support for Android Market on Android 2.1 and below
On June 30, 2017, Google will be ending support for the Android Market app on Android 2.1 Eclair and older devices . There was Android Market for apps and games, Google eBookstore for books and Google Music for music.

Shares of Weibo closed off 6.1% in NY, while those of Sina, its parent company, lost 4.8%. "But it's still a slap, it's not a kill shot", said Beijing-based director of Marbridge Consulting Mark Natkin.

China has one of the world's most restrictive internet regimes, tightly policed by a coterie of government regulators intent on silencing dissent to preserve social stability.

It follows the controversial shuttering of 60 popular celebrity gossip social media accounts last week by China's cyberspace authorities, who said the sites catered to poor tastes and did not "actively propagate core socialist values". The company has a deal in place with the United States national Football League to stream live content on its platform. The other two forums are news portal ifeng.com and video streamer ACFUN.

A man holds an iPhone as he visits Sina's Weibo microblogging site in Shanghai May 29, 2012. "But the way they are doing it just shouldn't be so absolute".

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