BEIJING, May 9, 2011 /PRNewswire-Asia-FirstCall/ --
AirMedia Group Inc. ("AirMedia") (Nasdaq: AMCN), a leading operator
of out-of-home advertising platforms in China targeting mid-to-high-end consumers,
today announced the appointment of James
Zhonghua Feng as president and a member of the Board of
Directors of AirMedia, effective May 6,
2011. Mr. Feng ceased to serve as chief operating officer of
AirMedia, effective May 6,
2011.
"I am pleased to announce the internal promotion of Mr. Feng,
who has been leading our sales team since October 2005. We
have a stable and dedicated management team that can lead the
Company from one success to another. As our president, Mr. Feng
will continue to oversee our overall sales organization and deploy
our resources to achieve our sales target," remarked Herman Guo, chairman and chief executive officer
of AirMedia.
About James Zhonghua
Feng
Mr. James Zhonghua Feng has served as chief operating
officer of AirMedia since October 2005. Before joining
AirMedia in 2005, he served as the general manager of New Chang'an
Media Advertising Company from 2004 to 2005. From 2002 to 2004,
Mr. Feng served as the deputy general manager of Beijing
Tianzhi Creative Advertising Company. Prior to that, he was the
general manager of the Beijing and
Shanghai branches of Shenzhen Nantong Umbrella Industry Group Co.,
Ltd. Mr. Feng received his bachelor's degree in Chinese
literature from Sichuan Normal University in China in 1993 and an EMBA degree from Peking
University in 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 frames in 34 major airports, including
the 15 largest airports in China.
AirMedia also operates digital TV screens in 38 major airports,
including 26 out of the 30 largest airports in China. In addition, AirMedia sells
advertisements on the routes operated by nine airlines, including
the four largest airlines in China. In selected major airports, AirMedia
also operates traditional media platforms, such as billboards and
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.
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 quotation from management in this announcement as
well as AirMedia's strategic and operational plans contain
forward-looking statements. AirMedia may also make written or oral
forward-looking statements in its reports to the U.S. Securities
and Exchange Commission, 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, Airmedia's air travel
advertising network, Airmedia may be unable to generate sufficient
cash flow from its operating activities and its prospects and
results of operations could be negatively affected; Airmedia
derives most of its revenues from the provision of air travel
advertising services, and any slowdown in the air travel
advertising industry in China may
materially and adversely affect its revenues and results of
operations; Airmedia's strategy of expanding its advertising
network by building new air travel media platforms and expanding
into traditional media in airports may not succeed, and its failure
to do so could materially reduce the attractiveness of its network
and harm its business, reputation and results of operations; if
Airmedia does not succeed in its expansion into gas station and
other outdoor media advertising, its future results of operations
and growth prospects may be materially and adversely affected; if
Airmedia's customers reduce their advertising spending or are
unable to pay Airmedia in full, in part or at all for a period of
time due to an economic downturn in China and/or elsewhere or for any other
reason, Airmedia's revenues and results of operations may be
materially and adversely affected; Airmedia faces risks related to
health epidemics, which could materially and adversely affect air
travel and result in reduced demand for its advertising services or
disrupt its operations; if Airmedia is unable to retain existing
concession rights contracts or obtain new concession rights
contracts on commercially advantageous terms that allow it to
operate its advertising platforms, Airmedia may be unable to
maintain or expand its network coverage and its business and
prospects may be harmed; a significant portion of Airmedia's
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, Airmedia's ability to generate revenues and its results
of operations would be materially and adversely affected;
Airmedia's limited operating history makes it difficult to evaluate
its 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.
Investor Contact:
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Raymond Huang
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Senior Director of Investor
Relations
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AirMedia Group Inc.
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Tel: +86-10-8460-8678
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Email: ir@airmedia.net.cn
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Caroline Straathof
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IR Inside
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Tel: +31-6-54624301
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Email: info@irinside.com
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SOURCE AirMedia Group Inc.