Chinese Internet company Sina, which runs the popular Twitter-like Weibo service, is planning to start a new Internet television service, a report says.
In an article Friday, Bloomberg noted that it was stepping up efforts to add multimedia content to win social network users.
Sina will partner BesTV New Media, according to details posted on Weibo.com. Mao Taotao, a public relations manager at Sina in Beijing, confirmed the details with Bloomberg. It added that the new service would be unveiled in Shanghai today at an event attended by executives incluyding Charles Chao, CEO of Sina.
The new service will help Sina attract other partners in the television industry and application developers to offer content on Weibo, the company said on Weibo.com.
Despite the success of the company's Weibo service, expenses have weighed down the group's earnings, according to its financial results released in May. Sina suffered a first quarter net loss of US$13.7 million, compared with a profit of US$15 million from a year ago.