This excerpt taken from the SOHU 8-K filed Mar 18, 2009.
SOHU. COM INC. REPORTS FILING OF A REGISTRATION STATEMENT FOR CHANGYOU.COM LIMITED IPO AND DISCUSS POTENTIAL IMPACT OF IPO ON SOHU
Sohu.com Inc. (Sohu) hereby reports the following:
Sohus massively multi-player online role - playing games (or MMORPGs) subsidiary Changyou.com Limited (Changyou) has filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission (or the SEC) for an initial public offering (or IPO) of American Depositary Shares (or ADSs). Each ADS represents two Class A ordinary shares of Changyou and the estimated price for each ADS offered ranges from $14.00 to $16.00. The registration statement has not yet become effective. The ADSs may not be sold, nor may any offers to buy be accepted, prior to the time the registration statement becomes effective.
Dr. Charles Zhang, Chairman and CEO of Sohu, has commented that he believes that this IPO of Changyou will provide Changyou a sharper focus on the MMORPG business and related strategic opportunities. In addition, Dr. Zhang has said that he believes that the IPO will benefit Sohu as Changyous continuing majority shareholder, by allowing Changyou to motivate and retain its management and employees and enhance their accountability, by providing incentive compensation programs tied to the market performance of Changyous ADSs and its financial results.