Beijing – Hurray Holding Co. (NASD: HRAY),
a provider of artist development, music production, wireless music distribution
and operator of an online video portal in China, announced on Friday that it
has sold its equity interest in Huayi Music to Huayi Brothers Media Corp. for
about $5 million.
Hurray said the companies intend to continue to cooperate in
the future in the areas of music, movie and TV production.
In addition to
operating the Ku6.com video portal, Hurray operates record labels including
Freeland Music, New Run Entertainment and Seed Music.
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