AirMedia Signs New Concession Rights Contract to Operate in Wuhan Tianhe Airport
March 04 2008 - 7:00AM
PR Newswire (US)
Increases the number of top 30 airports with which it has
concession rights to 29 BEIJING, March 4
/Xinhua-PRNewswire-FirstCall/ -- AirMedia Group Inc. (NASDAQ:AMCN),
the operator of the largest digital media network in China
dedicated to air travel advertising, today announced that it
recently obtained the contractual concession rights to operate 140
digital TV screens and 130 46-inch digital frames at the newly
constructed Terminal 2 of Wuhan Tianhe Airport from April 2008 to
April 2011. Wuhan is the capital city of Hubei Province. In 2007
Wuhan Tianhe Airport, which handled 8.4 million air passengers, was
rated as the 12th largest airport in mainland China in terms of the
number of air passengers. With the opening of Terminal 2, which has
a floor area of 116,400 square meters, Wuhan Tianhe Airport will
increase its passenger handling capacity to 13 million passengers
and become the largest airport in central China. Terminal 2 of
Wuhan Tianhe Airport is scheduled to open in April 2008. Wuhan
Tianhe Airport has also been selected to become one of China's
international hub airports. International flights will soon start
arriving at and leaving from Wuhan Tianhe Airport without first
stopping at Beijing, Shanghai or Guangzhou. "I am very excited
about the signing with Wuhan Tianhe Airport which used to be
operated by our competitor. This new cooperation increases the
number of top 30 airports in China where we have contractual
concession rights to operate digital TV screens from 28 airports to
29 airports and increases the total number of airports in China
where we have concession rights from 52 airports to 53 airports,"
commented Herman Man Guo, Chairman and Chief Executive Officer of
AirMedia. "Continuously expanding our network and capacity, which
will increase our revenue potential, is one of our core growth
strategies. The new cooperation once again demonstrates our strong
capability to obtain and secure resources and also highlights the
importance of having a national digital media network." About
AirMedia Group Inc. AirMedia Group Inc. (NASDAQ:AMCN) operates the
largest digital media network in China dedicated to air travel
advertising. AirMedia has contractual concession rights to operate
digital TV screens in 53 airports, including 29 out of the 30
largest airports in China, and has contractual concession rights to
place its programs on the routes operated by 9 airlines, including
the three largest airlines in China. In addition, AirMedia also has
contractual concession rights to operate 46-inch digital frames and
large size digital frames ranging from 63 to 70 inches in several
major airports. AirMedia also offers advertisers other media
platforms in airports, such as 360-degree LED displays, mega
display screens, and shuttle bus displays etc. For more information
about AirMedia, please visit http://www.airmedia.net.cn/ . Safe
Harbor Statement This announcement contains forward-looking
statements. These statements are made under the "safe harbor"
provisions of the U.S. Private Securities Litigation Reform Act of
1995. These forward-looking statements can be identified by
terminology such as "will," "may," "would," "expect," "anticipate,"
"future," "intend," "plan," "believe," "estimate," "confident" and
similar statements. Among other things, the quotations from
management in this announcement, as well as AirMedia Group Inc.'s
strategic and operational plans, contain forward-looking
statements. AirMedia may also make written or oral forward-looking
statements in its periodic reports to the U.S. Securities and
Exchange Commission on Forms 20-F and 6-K, etc., in its annual
report to shareholders, in press releases and other written
materials and in oral statements made by its officers, directors or
employees to third parties. Statements that are not historical
facts, including statements about AirMedia's beliefs and
expectations, are forward-looking statements. Forward- looking
statements involve inherent risks and uncertainties. A number of
important factors could cause actual results to differ materially
from those contained in any forward-looking statement. Potential
risks and uncertainties include, but are not limited to, if
advertisers or the viewing public do not accept, or lose interest
in, our air travel digital media network, we may be unable to
generate sufficient cash flow from our operating activities and our
prospects and results of operations could be negatively affected;
we derive substantially all of our revenues from the provision of
air travel advertising services, and if there is a downturn in the
air travel advertising industry, we may not be able to diversify
our revenue sources; if we are unable to retain existing concession
rights contracts or obtain new concession rights contracts on
commercially advantageous terms that allow us to place or operate
the digital TV screens in airports or on airplanes, we may be
unable to maintain or expand our network coverage and our business
and prospects may be harmed; a substantial majority of our revenues
are currently concentrated in the five largest airports and three
largest airlines in China, and if any of these airports or airlines
experiences a material business disruption, our ability to generate
revenues and our results of operations would be materially and
adversely affected; AirMedia's limited operating history makes it
difficult to evaluate our future prospects and results of
operations; and other risks outlined in AirMedia's filings with the
U.S. Securities and Exchange Commission. AirMedia does not
undertake any obligation to update any forward-looking statement,
except as required under applicable law. For more information,
please contact: Raymond Huang Investor Relations Director Tel:
+86-10-8460-8678 Email: FD Beijing Julian Wilson Tel:
+86-10-8591-1951 Email: DATASOURCE: AirMedia Group Inc. CONTACT:
Raymond Huang, Investor Relations Director, +86-10-8460-8678, or ;
or FD Beijing - Julian Wilson, +86-10-8591-1951, or , for AirMedia
Group Inc. Web Site: http://www.airmedia.net.cn/
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