Consulting, Media, and Law
Huayi Brothers Media launches IPO today
2009-10-15
Huayi Brothers Media Corp, the largest privately owned film company in China, started offering 42 million RMB-denominated A shares on the Growth Enterprise Market of the Shenzhen Stock Exchange today.
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VisionChina to buy Shanghai Digital Media Group for $160M
2009-10-15
Media Inc. (VISN) plans to buy Shanghai-based Digital Media Group for US$160 million, giving the Chinese out-of-home advertising network operator increased access to the digital television networks in Chinese subway systems, including Shanghai's.
Caijing boasts a circulation of 225,000 and is a major money-maker for the Hong Kong-listed SEEC Media Group, which owns and publishes the magazine. The journal pulled in HK$ 54.1 million ($6.9 million) in the first half of this year, contributing about 47 percent of the SEEC Media Group's total revenue during the period.
Despite heightened expectations from its owner and publisher in the face of the economic downturn, earlier reports say the 56-year-old has maintained that editorial integrity is fundamental and pressured the group into surrendering majority control by bringing in outside investors.
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Film producer Huayi Brothers plans IPO
2009-09-26
Private-owned Huayi Brothers Media Corporation, which hopes to raise 620 million Yuan ($91 million) by going public on China's Nasdaq-style Growth Enterprise Board (GEB), will be reviewed by the China Securities Regulatory Commission Sunday. Huayi Brothers' move comes after the government released a stimulus plan to bolster the domestic culture industry by allowing in more private and foreign investment.
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Focus Media CEO buying $142.4M of stock
2009-09-28
Focus Media (FMCN) this morning said it agreed to sell 75 million ordinary shares - the equivalent of 15 million ADRs - for $1.899 each, equal to $9.495 per ADR - to CEO Jason Jiang.
The price is a bit below yesterday’s close at $9.76. The total price is $142.425 million. The shares are subject to a six-month lock-up. After the deal, Jiang will hold a 19% stake, and will have the right to nominate one director to the company’s board.
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Ministry of Culture of the People's Republic of China named overseer of animation and online games industry in China
2009-09-21
China's State Commission Office for Public Sector Reform (SCOPSR) has issued a notice clarifying the responsibilities of various state organizations in the regulation processes concerning animation, online gaming, and the cultural market in China, which may exert great future influence on China’s online game industry.
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Focus Media posts Q2 loss
2009-09-18
Chinese digital advertising company Focus Media Holding Ltd (FMCN.O) reported a second-quarter loss, hurt partly by a drop in its Internet advertising business. For the quarter ending June 30, the company posted net loss attributable to shareholders of $23 million, or 18 cents per American depositary share, compared with a profit of $36.1 million, or 28 cents per ADS, a year ago.
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