China's Amazon? Tencent and Shanda to Merge Online Publishing and Ebook Services

Two of China's largest online publishing companies announced this week that they will merge, creating what some have called the 'Amazon of eBooks'.

Tencent Literature and Shanda Cloudary will become Yuewen Group, the country's largest online publishing and eBook company.

With 1,200 employees and more than three million books, the new company expects to attract around 100 million readers generating more than 200 million yuan (US$31.9 million) per year, said Yuewen CEO Wu Wenhui.