Renren reportedly selling video site

Marbridge Consulting reports Renren (RENN +1.2%) plans to sell its video site to fellow Chinese online video provider Mango TV, with a formal announcement due in August or September.

Note: While some of Marbridge's reports have panned out, others have been shot down.

Renren has already unloaded its Nuomi daily deals site to Baidu, as it tries to narrow its focus amid nosediving gaming revenue and declining social network traffic.

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