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TheStreet Open House

Phoenix New Media And Qihoo 360 Announce Strategic Cooperation

BEIJING, March 12, 2012 /PRNewswire-Asia/ -- Phoenix New Media Limited (NYSE: FENG), a leading new media company in China ("Phoenix New Media", "ifeng" or the "Company"), and Qihoo 360 Technology Co. Ltd. ("Qihoo 360") (NYSE: QIHU), a leading Internet company in China as measured by active user base, today announced strategic cooperation between the two companies to offer users seamless access to Phoenix New Media's premium content through Qihoo 360's multi-platform products.

Phoenix New Media, China's fourth largest Internet portal by time spent, has become the first media partner to offer Qihoo 360's over 400 million users easy and immediate access to ifeng's premium news content. Pursuant to the agreement, Phoenix New Media will provide content from its portal website, www.ifeng.com, directly to Qihoo 360's multi-platform products, including 360 Browsers and 360 Desktop.   I feng News will be listed as one of only six default links placed on 360's Personal Start-up Page. Moreover, Phoenix New Media will further expand its news application offerings to 360 Desktop, Qihoo 360's application-based platform for PCs in China.  Phoenix New Media will provide breaking news and other media updates to 360 Desktop users through tailored applications and push notifications.

Mr. Xiangdong Qi, President of Qihoo 360 commented, "We are pleased to partner with Phoenix New Media, leveraging its strong media DNA and editorial capabilities to provide our audience a balanced perspective on real-time global news and in-depth featured stories.  This strategic cooperation with ifeng will further improve users' engagement and experience on our platform by providing comprehensive and efficient access to global news via ifeng's applications and information services. We believe this partnership will further enhance close interaction between two of China's leading Internet companies going forward."

Mr. Ya Li, Chief Operating Officer of Phoenix New Media, commented, "We are excited to be partnered with Qihoo 360, the leading Internet platform company in China. Our strategic partnership will not only enrich Qihoo 360's content offerings, but also help boost our application downloads, increase our webpage views and further expand our overall user reach. Going forward, we believe that such initiatives, allowing expanded and easier access to our proprietary content, will help further enhance our user loyalty and viewership growth."

About Phoenix New Media

Phoenix New Media Limited (NYSE: FENG) is the leading new media company providing premium content on an integrated platform across Internet, mobile and TV channels in China.  Having originated from a leading global Chinese language TV network based in Hong Kong, Phoenix TV, PNM enables consumers to access professional news and other quality information and share user-generated content on the Internet and through their mobile devices. PNM's platform includes its ifeng.com channel, consisting of its ifeng.com website, its video channel, comprised of its dedicated video vertical and video services and applications, and its mobile channel, including its mobile Internet website and mobile Internet and value-added services ("MIVAS").

About Qihoo 360

Qihoo 360 Technology Co. Ltd. (NYSE: QIHU) is a leading Internet company in China as measured by its active user base. The Company is also the number one provider of Internet and mobile security solutions in China as measured by its active smartphone user base, according to iResearch. Qihoo 360 also provides users with secure access points to the Internet via its market leading web browsers and application stores. The Company has built one of the largest open Internet platforms in China. Qihoo 360 monetizes its massive user base primarily through online advertising and through Internet value-added services on its open platforms.  

For investor and media inquiries please contact:

Phoenix New Media Limited.: Matthew ZhaoTel: +86 (10) 8445-8883Email: ir@ifeng.com

ICR, Inc. Jeremy PeruskiTel: +1 (646) 405-4883Email: Jeremy.peruski@icrinc.com

Qihoo 360 Technology Co. Ltd.:Tel: +86 (10)5878-1574E-mail: ir@360.cn

ChristensenMr. Tip FlemingTel: +852 9212 0684E-mail: tfleming@ChristensenIR.com

SOURCE Qihoo 360 Technology Co. Ltd.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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