Certain Unhealthy and Indecent Content

Late to this, but SINA Announces Receipt of Government Notices (May 2, 2014)

SINA ... received two notices from the State Administration of Press, Publication, Radio, Film and Television stating that the Company’s Internet Publication License and License for Online Transmission of Audio-Visual Programs would be revoked due to certain unhealthy and indecent content from third-parties or by users on its portal, i.e., on its online reading channel book.sina.com.cn and on its website www.sina.com.cn.

(Emphasis mine.) They were also fined over $800,000 by the deliciously named Beijing Municipal Cultural Market Administrative Law Enforcement Unit. Hands up, I'm from the BMCMALEU!

The analyst at JPMorgan whose note I read estimated that online video generates 10-20% of portal revenue (5-10% of total revenue).  I can't tell from his mealymouthed language, but I guess he thinks it isn't a permanent revocation, only temporary.  He also has a $92 price target on the stock, so his guess is as good as the next guy's.