From Investor's Business Daily:
Chinese-language Internet search giant Baidu Inc. (BIDU) is said to be weighing a plan to enter the e-book market.Sources fluctuated recently that based on the mode of its video portal qiyi.com, the Nasdaq-traded company intended to establish an independent e-book company. In addition to introducing venture capital, it wants to list it on the stock market in the future. Ren Xuyang, vice president responsible for market and business exploration at Baidu.com, is reportedly to be busy seeking CEO for the e-book company now.
I don't have a good feeling about this rumor. It just doesn't strike me as plausible.