AirMedia Enters into Exclusive Concession Rights Contract with Sinopec
April 30 2009 - 2:00AM
PR Newswire (US)
Company to Operate Outdoor Advertising at Sinopec Service Stations
Nationwide Extends AirMedia's Reach to China's 122 Million
Automobile Drivers BEIJING, April 30 /PRNewswire-Asia-FirstCall/ --
AirMedia Group Inc. (NASDAQ:AMCN), a leading operator of
out-of-home advertising platforms in China targeting
mid-to-high-end consumers, and China Petroleum & Chemical
Corporation ("Sinopec Corp.") (HKEX: 386; NYSE: SNP; LSE: SNP; CH:
600028) today announced they have entered into an exclusive
concession rights contract under which AirMedia will develop and
operate outdoor advertising platforms at all of Sinopec's service
stations located throughout China for over five and half years,
except for service stations in limited cities which still have
original contracts with other operators in effect. The contract is
effective immediately and will expire on December 31, 2014.
AirMedia will incur concession fees to Sinopec beginning in the
third quarter of 2009. The move extends AirMedia's leadership in
China's air travel advertising sector to the advertising market,
the target demographic of which is the country's rapidly growing
population of automobile drivers and owners who, along with air
travelers, are among the most affluent members of China's emerging
consumer class. As of the end of 2008, there were 122 million
drivers and 64.7 million cars for civil use in China, of which 41.7
million were privately owned. "As a leading operator of out-of-home
advertising platforms targeting mid- to-high-end consumers in
China, we are extremely excited to partner with Sinopec to extend
our media reach to China's rapidly growing population of automobile
drivers and owners," said Herman Guo, chairman and chief executive
officer of AirMedia. "Similar to the air travel industry in China,
Sinopec's service stations are frequently visited by consumers with
higher-than-average disposable income. Expanding our advertising
network to Sinopec's service stations is a natural extension of
AirMedia's operation and will create synergies with our current
media platforms and customer base," Mr. Guo continued. "China's
consumer base will continue to evolve in exciting ways and
AirMedia's extensive experience in targeting mid-to-high-end
consumers in the air travel sector well prepares us to achieve
further success in other advertising sectors. Our growing network
allows us to provide advertisers with even more flexible and
effective marketing solutions to reach a broader base of affluent
consumers in China." Mr. Haichao Zhang, Sinopec's vice president
stated, "We are pleased to be working with AirMedia as our
exclusive partner for operating outdoor advertising platforms at
our retail service stations throughout China. We look forward to
benefiting from the synergy between our extensive national retail
network and AirMedia's experiences in operating nationwide media
platforms targeting mid-to-high-end consumers." Sinopec is the
operator of China's largest network of service stations, with more
than 28,000 retail service stations nationwide. AirMedia plans to
install advertising mediums such as scrolling light boxes in at
least 3,500 service stations in provincial capitals and other
developed cities throughout China by the end of 2011, and in at
least 8,000 service stations during the contract period. About
AirMedia Group Inc. AirMedia Group Inc. (NASDAQ:AMCN) is a leading
operator of out-of-home advertising platforms in China targeting
mid-to-high-end consumers. AirMedia operates the largest digital
media network in China dedicated to air travel advertising.
AirMedia operates digital TV screens in 41 major airports,
including all of the 30 largest airports in China. AirMedia also
operates digital frames in 22 major airports. In addition, AirMedia
sell advertisements on the routes operated by 12 airlines,
including the three largest airlines in China. In select major
airports, AirMedia also operates traditional media platforms, such
as billboards, light boxes, and other digital media, such as mega
LED screens. Besides the above, AirMedia has exclusive contractual
concession rights to develop and operate outdoor advertising at
Sinopec's service stations located throughout China. AirMedia plans
to install its advertising platforms in at least 3,500 service
stations in major cities throughout China by the end of 2011, and
in at least 8,000 service stations by the end of 2014. For more
information about AirMedia, please visit
http://www.airmedia.net.cn/ . About Sinopec Corp. Sinopec Corp. is
the first Chinese company that has been listed in Hong Kong, New
York, London and Shanghai. The Company is an integrated energy and
chemical company with upstream, midstream and downstream
operations. The principal operations of Sinopec Corp. and its
subsidiaries include: exploring, developing, producing and trading
crude oil and natural gas; processing crude oil into refined oil
products; producing, trading, transporting, distributing and
marketing refined oil products; and producing and distributing
chemical products. Based on 2007 turnover, Sinopec Corp. is the
largest listed company in China. The Company is one of the largest
crude oil and petrochemical companies in China and Asia. It is also
one of the largest gasoline, diesel and jet fuel and other major
chemical products producers and distributors in China and Asia. For
additional information about Sinopec Corp., please visit the
Company's website at http://www.sinopec.com/ . Investor and Media
Contact Information: AirMedia: Raymond Huang Investor Relations
Director AirMedia Group, Inc. Tel: +86-10-8460-8678 Email: Cynthia
He Brunswick Group Tel: +86-10-6566-9504 Email: Sinopec: Investor
Inquiries: Beijing Tel: +86-10-6499-0060 Fax: +86-10-6499-0022
Email: Hong Kong Tel: +852-2824-2638 Fax: +852-2824-3669 Email:
Media Inquiries: Beijing Tel: +86-10-5996-0028 Fax:
+86-10-5996-0386 Email: Hong Kong Tel: +852-3512-5000 Fax:
+852-2259-9008 Email: DATASOURCE: AirMedia Group Inc. CONTACT:
AirMedia: Raymond Huang, Investor Relations Director of AirMedia
Group, Inc., +86-10-8460-8678, or ; or Cynthia He of Brunswick
Group, +86-10-6566-9504, or ; Sinopec: Investor Inquiries: Beijing,
+86-10-6499-0060 (Tel), or +86-10-6499-0022 (Fax), or ; or Hong
Kong, +852-2824-2638(Tel), or +852-2824-3669 (Fax), or ; or Media
Inquiries: Beijing, +86-10-5996-0028 (Tel), or +86-10-5996-0386
(Fax), or ; or Hong Kong, +852- 3512-5000 (Tel), or +852-2259-9008
(Fax), Web site: http://www.airmedia.net.cn/
http://www.sinopec.com/
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