FUJIAN, China, May 19, 2011 /PRNewswire-Asia/ -- China
MediaExpress Holdings, Inc. (NASDAQ: CCME) ("CME" or the
"Company"), China's largest
television advertising operator on inter-city and airport express
buses, reported today that the Nasdaq Stock Market ("Nasdaq") has
sent a letter to the Company indicating that it denied the request
of the Company for continued listing on Nasdaq, and will suspend
trading of the Company's shares effective at the open of business
on Thursday, May 19, 2011.
The Company intends to further appeal the hearing
CME, through contractual arrangements with Fujian Fenzhong, an
entity majority owned by CME' former majority shareholder, operates
the largest television advertising network on inter-city and
airport express buses in China.
While CME has no direct equity ownership in Fujian Fenzhong,
through the contractual agreements CME receives the economic
benefits of Fujian Fenzhong's operations. Fujian Fenzhong generates
revenue by selling advertisements on its network of television
displays installed on over 27,200 express buses originating in
eighteen of China's most
prosperous regions, including the four municipalities of
Beijing, Shanghai, Tianjin and Chongqing and fourteen economically prosperous
regions, namely Guangdong,
Jiangsu, Jiangxi, Fujian, Sichuan, Hebei, Anhui,
Hubei, Shandong, Shanxi, Inner Mongolia, Zhejiang, Hunan and Henan.
SOURCE China MediaExpress Holdings, Inc.