BEIJING, April 27, 2015 /PRNewswire/ -- 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, as well as
a first-mover in the in-flight and on-train Wi-Fi market, today
announced that Guangzhou Meizheng Advertising Co.,
Ltd. ("Meizheng"), one of its consolidated entities in
which AirMedia has 63.2% of the equity interest, has
recently entered into a concession agreement (the "Concession
Agreement") with Shandong China Railway Tourism &
Advertising Group Co., Ltd., pursuant to which Meizheng has been
granted the exclusive right to install and operate Wi-Fi systems on
ordinary trains operated by Jinan Railway Bureau. As of the time of
execution of the Concession Agreement, Jinan Railway Bureau had 74
groups of ordinary trains in operation.
In addition to the aforementioned Concession Agreement, Meizheng
also holds the concession rights to exclusively install and operate
Wi-Fi systems on the high-speed trains operated by Jinan Railway
Bureau.
"The Concession Agreement will enable us to further expand our
on-train Wi-Fi network and strengthen our position in on-train
Wi-Fi Market. We intend to continue to increase our market share in
the on-train Wi-Fi Market," commented Mr. Herman Man Guo, chairman and chief executive
officer of AirMedia.
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, as
well as a first-mover in the in-flight and on-train Wi-Fi market.
AirMedia operates the largest digital media network in China dedicated to air travel advertising.
AirMedia operates digital frames in most of the 30 largest airports
in China. In addition, AirMedia
sells advertisements on the routes operated by seven 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-size LED
screens.
In addition, AirMedia has obtained exclusive contractual
concession rights until the end of 2020 to develop and operate
outdoor advertising platforms at Sinopec's service stations located
throughout China.
AirMedia, which is in the process of transforming into a leading
in-flight and on-train Wi-Fi operator in China, has obtained
concession rights to install and operate Wi-Fi systems on the
airplanes operated by Hainan Airlines Group and on the trains
operated by several main railway bureaus in China, including Beijing Railway Bureau,
Shanghai Railway Bureau and Guangzhou Railway (Group)
Corporation.
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,
in-flight internet services and in-air multimedia platform or other
outdoors 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 six largest airports and four
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:
Raymond Huang
Senior Director of Investor Relations
AirMedia Group Inc.
Tel: +86-10-8460-8678
Email: ir@airmedia.net.cn
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/airmedia-strengthens-its-position-in-on-train-wi-fi-market-with-new-concession-rights-with-jinan-railway-bureau-300072306.html
SOURCE AirMedia Group Inc.