The deal comes as many Chinese gaming firms are trying to either cut costs or create new revenue streams to survive Beijing
China’s second-largest gaming company NetEase has signed a deal to sell its comics business to rival Bilibili, changing track from its previous efforts to build a footprint in the country’s booming online comics market.
Shanghai-based Bilibili, a popular anime-streaming site for Chinese millennials, announced the deal in a Wednesday statement saying that it was acquiring “major assets” from NetEase Comics including its mobile app, website, and copyrights for a large number of stories on these platforms.
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