AirMedia to Branch out into Internet Media

AirMedia Group Inc. (Nasdaq: AMCN) will shift its future development strategy to selected and good-quality Internet media from air travel advertising, announced Herman Guo, chairman and chief executive officer of AirMedia, the operator of China's largest digital media network dedicated to air travel advertising.

In the future, AirMedia's running tactic will turn to a profit-centric model from a previous move to grab airport resources, the chairman pointed out. It will witness a profitability in its cooperation project with the Chinese oil giant China Petroleum and Chemical Corporation (Sinopec, NYSE: SNP, SEHK: 0386, LSE: SNP, and SHSE: 600028) no later than the beginning of 2011.

AirMedia introduced the gas station-focused outdoor media project along with Sinopec in April 2009. The project has been in process in some cities such as Beijing, Shanghai, and Shenzhen. It is scheduled to expand into more than ten cities in China before this year-end.

Conor Yang, chief financial officer of AirMedia, said that the project was expected to generate a profit at the beginning of 2010.

Source: www.cnstock.com (August 25, 2009)

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