U.S. Firms Invest in Chinese Web Site

Wednesday March 7, 6:19 am ET

By Peter Svensson, AP Technology Writer

U.S. Venture Firms Invest $23.5M in Chinese Video Web Site UUSee

0 NEW YORK (AP) -- A group of U.S. venture capital firms, including Disney's investment arm, was set to announce Wednesday that it had invested $23.5 million in UUSee, a major Chinese site for Web video.

UUSee distributes live and on-demand TV from CCTV, China's largest TV broadcaster; CSAT, China's largest satellite TV company; and Beijing TV. The content includes subtitled U.S. shows like "CSI: Miami" and "24."

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