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Announcement About Baidu's Bid for Zynga a Phony

Monday, 22 Apr 2013 | 3:40 PM ET
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A fake press release circulated Monday that said the Chinese search company Baidu made an offer to acquire the social-gaming company Zynga.

The press release was originally posted on PR*Urgent's website but has been taken down.

The statement claimed that Baidu had approached Zynga with a cash offer of $10 a share and was interested in the company because of Zynga's move into gambling.

Baidu denied that it had ever made an offer, however, and said it had nothing to do with the press release.

Zynga is in fact getting into the gambling space as it tries to find new revenue streams. Earlier this month, the company launched its first games that use real money in the U.K. and plans to expand the business into Asia, the U.S., and other parts of Europe over the next few months.

(Read More: Zynga Dives Into Internet Gambling, in the UK )

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