Sina.com, Sohu.com Get China Approval to Distribute News - TheStreet

Sohu.com

(SOHU) - Get Report

and

Sina.com

(SINA) - Get Report

, two Chinese Internet media companies, said they have received permission from the government in China to publish online news.

The two licenses mark the first time China's government has given the formal stamp of approval for privately owned Internet news reporting agencies, the companies said.

Sina dipped 28 cents, or 7.6%, to $3.44, and Sohu fell 63 cents, or 21.5%, to $2.28 in recent

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trading.