BEIJING, March 18 /PRNewswire-Asia-FirstCall/ -- AirMedia
Group Inc. ("AirMedia" or the "Company") (Nasdaq: AMCN), a leading
operator of out-of- home advertising platforms in China targeting mid-to-high-end consumers,
today announced that Dr. Li Zeng,
the Company's vice president, will supervise its business of
traditional media in airports going forward. AirMedia also
announced that Mr. Ken Zijian Zeng
has stepped down as executive president, and will serve as
AirMedia's consultant.
Mr. Ken Zijian Zeng joined the
Company in January 2008. During his
tenure, Mr. Ken Zijian Zeng led the
Company's entry into traditional media in the airports of
Beijing, Shenzhen and Wenzhou, and was in charge of the
Company's overall operation of traditional media in airports.
"We would like to thank Ken for his contributions to AirMedia
and look forward to his ongoing contribution to AirMedia in a
consulting capacity," remarked Herman
Guo, chairman and chief executive officer of AirMedia.
"Given Dr. Zeng's depth of knowledge of media and advertising, I
have strong confidence in the continued improvement in sales of our
traditional media in airports in 2010."
About Dr. Li Zeng
Dr. Li Zeng has served as vice
president of AirMedia since January
2009, in charge of Beijing AirMedia City Outdoor Advertising
Co., Ltd., a company that AirMedia acquired in January 2010. Prior to joining AirMedia, Dr. Zeng
was the founder and CEO of Beijing AirMedia City Outdoor
Advertising Co., Ltd. Prior to that, Dr. Zeng served as executive
vice president and chief editor of the China Youth & Children
Audio-Visual Publishing House from 2001 to 2005. In the meantime,
he was also the assistant to president of the China Youth Magazine.
From 1997 to 2001, Dr. Zeng served as the head of the rights and
benefits department of the Central Committee of the Communist Youth
League of China. Dr. Zeng received
his doctor's degree in law from the Party School of the Central
Committee of the Communist Party of China.
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 40 major airports,
including 29 out of the 30 largest airports in China. AirMedia also operates digital frames
in 32 major airports, including the 15 largest airports in
China. In addition, AirMedia sells
advertisements on the routes operated by eight airlines, including
the three largest airlines in China. In selected major airports, AirMedia
also operates traditional media platforms, such as billboards,
light boxes and other digital media, such as mega LED screens.
In addition, AirMedia has obtained exclusive contractual
concession rights until the end of 2014 to develop and operate
outdoor advertising platforms 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 .
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," "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, 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 advertising 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 recent slowdown in the air
travel advertising industry in China may materially and adversely affect our
revenues and results of operation; our strategy of expanding our
advertising network by expanding into traditional media and
building new media platforms may not succeed, and our failure to do
so could materially reduce the attractiveness of our network and
harm our business, reputation and results of operations; if our
customers reduce their advertising spending due to an economic
downturn in China and/or elsewhere
or for any other reason, our revenues and results of operations may
be materially and adversely affected; we face risks related to
health epidemics such as the H1N1 flu, which could materially and
adversely affect air travel and result in reduced demand for our
advertising services or disrupt our operations; if we are unable to
retain existing concession rights contracts or obtain new
concession rights contracts on commercially advantageous terms that
allow us to operate our advertising platforms, we may be unable to
maintain or expand our network coverage and our business and
prospects may be harmed; a significant portion of our revenues has
been derived from 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; our 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
AirMedia Group Inc.
Tel: +86-10-8460-8678
Email: ir@airmedia.net.cn
Caroline Straathof
IR Inside
Tel: +31-6-5462-4301
Email: info@irinside.com
SOURCE AirMedia Group Inc.