AirMedia and Shanghai Media Group Announce Strategic Partnership to Provide TV Programs to Air Travelers
March 11 2008 - 8:00PM
PR Newswire (US)
BEIJING and SHANGHAI, China, March 11 /Xinhua-PRNewswire-FirstCall/
-- AirMedia Group Inc. (NASDAQ:AMCN), the operator of the largest
digital media network in China dedicated to air travel advertising,
and Shanghai Media Group (SMG), the second largest comprehensive
media group in China, today announced that they have established a
strategic partnership to provide TV programs to air travelers.
According to the agreement with WingsMedia, a wholly-owned
subsidiary of SMG, AirMedia obtained the exclusive right to show
its selected news, theme programs and documentary clips provided by
SMG in airports and on airplanes of AirMedia's network from March
2008 to February 2010. "I am very excited about our partnership
with SMG, one of the world's most powerful and influential
Chinese-language media and entertainment groups, which will further
strengthen our position as the largest digital media network
provider dedicated to air travel advertising," remarked Herman Man
Guo, Chairman and Chief Executive Officer of AirMedia. "The
non-advertising content shown across our media network constitutes
a significant attraction for air travelers and represents a
cost-effective way of making our programs more effective for our
advertising clients. We will continue to obtain additional
high-quality and diversified content from third-party content
providers to provide value-added services to our network airports
and airlines as well as to our advertisers." 'We are very pleased
to have this cooperation with AirMedia," said Ruigang Li, President
of SMG. "AirMedia has the nationwide digital media network in
airports and on airplanes which have very attractive and desirable
audiences for content providers like us. Through AirMedia's unique
platform, we are enabled to reach and promote our programs to the
high-end demographics of audiences.' AirMedia's standard programs
in airports currently include 25 minutes of advertising content and
35 minutes of non-advertising content during each hour of
programming, and are shown for approximately 16 hours per day. The
length of AirMedia's in-flight programs typically ranges from
approximately 45 minutes to an hour per flight, approximately 5 to
16 minutes of which consist of advertising content and the rest of
the programs consist of non-advertising content. AirMedia also has
the exclusive right to show its selected documentary clips and
various entertainment contents provided by China Central Television
in airports and on airplanes. 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/ . About Shanghai Media Group Shanghai
Media Group (SMG) is one of the world's most powerful and
influential Chinese-language media and entertainment groups, with
radio and TV as its core business. Other related businesses include
performing arts and sports, technical service and investment. SMG
was founded in 2001 after merging Radio Shanghai, Eastern Radio
Shanghai, Shanghai Television, Oriental Television Station and
Shanghai Cable Television. It broadcasts 258 hours of TV and 214
hours of radio on a daily basis (2005). SMG operates 13 analog TV
channels (7 cable channels covering Shanghai area, 4 terrestrials
for Shanghai and neighboring areas, and 2 satellite channels for
domestic and overseas subscribers), 11 analog radios, 16 national
digital pay channels, 1 broadband online TV, 1 mobile phone TV, and
1 national IPTV service platform, 5 newspapers and magazines, and 5
sports clubs. SMG produces TV and radio programs in news,
entertainment, sports, finance and music. It also produces TV
series, documentaries and cartoons. SMG is building up its archive
with copyrighted contents. It aims to become a major producer,
distributor and provider serving the Chinese-speaking communities
worldwide. 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: Investor 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 of AirMedia,
+86-10-8460-8678, or ; or at FD Beijing, Julian Wilson,
+86-10-8591-1951, or , for AirMedia Web Site:
http://www.airmedia.net.cn/
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