{"id":381307,"date":"2020-11-16T00:35:10","date_gmt":"2020-11-16T05:35:10","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=381307"},"modified":"2020-11-16T00:35:10","modified_gmt":"2020-11-16T05:35:10","slug":"sohu-com-reports-third-quarter-2020-unaudited-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/sohu-com-reports-third-quarter-2020-unaudited-financial-results\/","title":{"rendered":"Sohu.com Reports Third Quarter 2020 Unaudited Financial Results"},"content":{"rendered":"
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PR Newswire<\/p>\n<\/p><\/div>\n

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\n BEIJING<\/span>, Nov. 16, 2020<\/span> \/PRNewswire\/ — Sohu.com Limited (NASDAQ: SOHU), China’s<\/span> leading online media, video, search and gaming business group, today reported unaudited financial results for the third quarter ended September 30, 2020<\/span>.<\/p>\n

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\n \"Sohu
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\n Third Q<\/b>
\n uarter Highlights<\/b>\n <\/p>\n

As previously announced, on September 29, 2020<\/span>, the Company’s subsidiary Sogou Inc. (“Sogou”) entered into a definitive Agreement and Plan of Merger (the “Sogou Merger Agreement”) with THL A21 Limited, TitanSupernova Limited (“Parent”), and Tencent<\/span> Mobility Limited, each of which is a direct or indirect wholly-owned subsidiary of Tencent<\/span>, which contemplates that Parent will be merged with and into Sogou in an all-cash transaction (the “Sogou Merger”), and Sogou will become a wholly-owned indirect subsidiary of Tencent<\/span>. As also previously announced, on September 29, 2020<\/span>, the Company entered into a Share Purchase Agreement with Parent (the “Share Purchase Agreement”), pursuant to which the Company’s wholly-owned subsidiary Sohu.com (Search) Limited (“Sohu Search”) agreed to sell all of the Sogou Class A ordinary shares and Sogou Class B ordinary shares owned by it to Parent (the “Share Purchase”), shortly before the effectiveness of the Sogou Merger, at a purchase price of US$9.00<\/span> per share, which is equal to the per-share consideration under the Sogou Merger Agreement. In view of the Share Purchase Agreement, the results of operations for Sogou have been excluded from the Company’s results from continuing operations in the Company’s condensed consolidated statements of operations for the third quarter and are presented in separate line items as discontinued operations. Retrospective adjustments to the historical statements have been made in order to provide a consistent basis of comparison. Unless indicated otherwise, results presented in this release are related to continuing operations only.<\/p>\n