BEIJING, June 9, 2011 /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 its chairman and chief executive
officer, Herman Guo, has made
purchases of US$1,063,293 of the
Company's American Depositary Shares (ADSs) from the public market
during the period from May 26 to June
8. The purchases were made under the account of Mr. Guo's
wife.
Mr. Guo, who is the founder and largest shareholder of AirMedia,
purchased a total of 299,524 ADSs at an average price of
US$3.55 per ADS, with an approximate
value of US$1,063,293. Each ADS
represents two ordinary shares and is traded on the Nasdaq Global
Exchange.
Mr. Guo has also advised the Company that he expects to purchase
additional shares from time to time during the next several months.
Such purchases would be made by Mr. Guo or his wife, or by
investment vehicles that are wholly owned and controlled by Mr. Guo
or his wife, in accordance with AirMedia's internal share trading
policy regarding officers and directors.
"Despite recent decreases in automobile advertising spending due
to the Japanese earthquake, I believe our business is strong in
business fundamentals and financials. Our business development is
on track and I have strong confidence in the growth prospects of
the Company," remarked Mr. Guo.
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 35 major airports and digital
TV screens in 37 major airports, including most of the 30 largest
airports in China. In addition,
AirMedia sells advertisements on the routes operated by eight
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 Business Outlook section and 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 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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SOURCE AirMedia Group Inc.