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Related Party Transactions and Balances (Tables)
12 Months Ended
Dec. 31, 2012
RELATED PARTY TRANSACTIONS AND BALANCES [Abstract]  
Schedule of Relationship between Related Parties and Parent Company

Entity

 

Relationship to Ku6 Media Co., Ltd.

Shanda Interactive Entertainment Limited (“Shanda”)

 

Controlling shareholder

Shanda Computer (Shanghai) Co., Ltd. (“Shanda Computer”)

 

Wholly owned affiliate of Shanda

Shanghai Shulong Computer Technology Co., Ltd. (“Shanghai Shulong Computer”)

 

Consolidated affiliate of Shanda Games Limited

Shanghai Shulong Technology Co., Ltd. (“Shanghai Shulong”)

 

Consolidated affiliate of Shanda Games Limited

Chengdu Jisheng Technology Co., Ltd. (“Chengdu Jisheng”)

 

Wholly owned affiliate of Shanda

Shanghai Shengyue Advertising Co., Ltd. (“Shengyue”)

 

Wholly owned affiliate of Shanda

Shanda Media Group Ltd. (“Shanda Media”)

 

Wholly owned affiliate of Shanda

Shanda Capital Limited. (“Shanda Capital”)

 

Wholly owned affiliate of Shanda

Shanda Games Ltd. (“Shanda Games”)

 

Affiliate under common control of Shanda

Hurray! Media Co., Ltd.

 

Wholly owned affiliate of Shanda

Seed Music Group Limited

 

Wholly owned affiliate of Shanda

Hurray! Solutions Ltd.

 

Wholly owned affiliate of Shanda

Schedule of Related Party Transactions in Continuing Operations

 

 

Year ended
December 31, 2010

 

Year ended
December 31, 2011

 

Year ended
December 31, 2012

 

Related party transactions in continuing operations:

 

 

 

 

 

 

 

Advertising revenue received from companies under common control by Shanda

 

701,732

 

8,076,155

 

12,481,927

 

Promotion service fee paid to companies under common control by Shanda

 

376,302

 

379,465

 

 

Loan borrowing from Shanghai Shulong Computer Technology Co., Ltd.

 

 

6,832,012

 

 

Loan borrowing from Shanghai Shulong Technology Co., Ltd.

 

3,030,711

 

6,503,884

 

 

Loan borrowing from Shanda Computer (Shanghai) Co., Ltd. *

 

1,565,290

 

 

 

Loan repayment from Shanda Games Limited

 

 

 

13,900,000

 

Loan repayment to Shanghai Shulong Computer Technology Co., Ltd.

 

 

 

6,769,544

 

Loan repayment to Shanghai Shulong Technology Co., Ltd.

 

 

3,189,527

 

3,135,076

 

Loan to Shanda Games Limited

 

3,200,000

 

14,000,000

 

 

Loan to Shanda Capital Limited

 

 

 

470,000

 

Loan interest income from Shanda Games Limited

 

 

108,019

 

246,178

 

Loan interest income from Shanda Capital Limited

 

 

 

10,575

 

Convertible Bond issued to Shanda Media (Note 1)

 

 

50,000,000

 

 

Convertible Bond redeemed from Shanda Media (Note 1)

 

 

50,000,000

 

 

Interest expense for loan from companies under common control by Shanda

 

 

688,952

 

448,011

 

Interest expense of Convertible Bond issued to Shanda Media (Note 1)

 

 

375,000

 

 

 


*Borrowing is not reflected in “other payables due to related parties” as the liability was incurred by the Company’s formerly consolidated subsidiary Yisheng, which was deconsolidated in 2011 (Note 8).  The loan was assumed by the acquiring parties of Yisheng and de-recognized upon deconsolidation.

Schedule of Accounts Receivable Balances Due from Related Parties

 

 

December 31, 2011

 

December 31, 2012

 

 

 

 

 

 

 

Shanghai Shengyue Advertising Co., Ltd.

 

2,649,385

 

4,333,797

 

Other companies under common control by Shanda

 

90,794

 

65,240

 

 

 

2,740,179

 

4,399,037

 

Schedule of Other Receivables Balances Due from Related Parties

 

 

December 31, 2011

 

December 31, 2012

 

Other receivables due from related parties

 

 

 

 

 

Shanda Games Limited

 

17,308,019

 

3,389,567

 

Hurray! Media Co., Ltd.

 

1,246,641

 

1,246,641

 

Seed Music Group Limited

 

980,000

 

980,000

 

Shanda Capital Limited

 

 

480,575

 

Other companies under common control by Shanda

 

4,609

 

 

 

 

19,539,269

 

6,096,783

 

Schedule of Other Payables Balances Due to Related Parties

 

 

December 31, 2011

 

December 31, 2012

 

Other payables due to related parties

 

 

 

 

 

Shanghai Shulong Technology Co. Ltd

 

6,345,068

 

3,404,497

 

Shanghai Shulong Computer Technology Co., Ltd

 

6,832,012

 

 

Other related party

 

375,000

 

375,000

 

 

 

13,552,080

 

3,779,497