Sohu.com Financing Committee Ends Consideration Indicative Proposal From CEO

(RTTNews) - Sohu.com Inc. (SOHU) said that the special financing committee of its Board of Directors has informed the Board that the Financing Committee has decided to stop considering Indicative Proposal from Charles Zhang, the Company's Chairman and Chief Executive Officer. The Financing Committee informed the Board that it instead will seek and consider alternative financing options for the Company.

The special financing committee was formed in response to the Company's receipt of a preliminary non-binding indicative proposal from Charles Zhang, the Company's Chairman and Chief Executive Officer, for an investment by a special purpose entity to be formed by Dr. Zhang and a third-party private equity firm to be identified by Dr. Zhang.

The company cautioned investors and others that there is no assurance that any alternative financing transaction or transactions will be identified or completed.