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Changyou.com acquires non-controlling interest in subsidiary 7Road.com for $78M

Changyou.com (CYOU) and its majority shareholder, Sohu.com (SOHU) jointly announced that on May 1, Changyou entered into a definitive agreement to acquire all of the ordinary shares of its majority-owned Web games subsidiary 7Road.com held by the minority shareholders, representing 28.074% of the outstanding share capital of 7Road, for aggregate fixed cash consideration of approximately $78M. Following the closing of the acquisition, 7Road will be a wholly-owned subsidiary of Changyou.