Renren reportedly selling video site

• Marbridge Consulting reports Renren (RENN +1.2%) plans to sell its 56.com 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.