In a move that will affect 487 million cell phone users in China, the country’s leading diversified financial and entertainment media company, Xinhua Finance Media, acquired 100 percent of Beijing Mobile Interactive Co., Ltd.
BEIJING, June 15 /Xinhua-PRNewswire-FirstCall/ — Xinhua Finance Media
(”XFMedia”; Nasdaq: XFML), China’s leading diversified financial and
entertainment media company, today announced that it has completed its
acquisition of a 100% interest in Beijing Mobile Interactive Co., Ltd
(”M-in”). The acquisition is intended to enable XFMedia to rapidly
integrate mobile service capabilities with its existing range of popular
media assets and market a variety of new interactive products and services
to more than 487 million mobile phone users in China.
About Xinhua Finance Media Limited
Xinhua Finance Media (”XFMedia”; Nasdaq: XFML) is China’s leading
diversified financial and entertainment media company targeting high net
worth individuals nationwide. The company reaches its target audience via
TV, radio, newspapers, magazines and other distribution channels. Through
its five synergistic business groups, Advertising, Broadcast, Print,
Production and Research, XFMedia offers a total solution empowering clients
at every stage of the media process and keeping people connected and
entertained.
Headquartered in Beijing, the company has offices and affiliates in
major cities of China including Beijing, Shanghai, Guangzhou, Shenzhen and
Hong Kong. For more information, please visit http://www.xinhuafinancemedia.com .
Xinhua Finance Media is a subsidiary of Xinhua Finance Limited (”XFL”;
TSE Mothers: 9399), China’s premier financial information and media service
provider. XFL owns 36.9% of the equity and 85.4% of the voting rights of
XFMedia through its holding of class B common shares, which have ten votes
per share. The investing public, the company’s China partners, executives
and staff own class A common shares in the company with one vote per share.
The dual-class common share structure was created to accommodate the
regulatory landscape of China’s media sector.
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,” “expects,” “anticipates,”
“future,” “intends,” “plans,” “believes,” “estimates,” “confident” and
similar statements. Among other things, quotations from management in this
announcement contain forward-looking statements. XFMedia may also make
written or oral forward-looking statements in its periodic reports to the
U.S. Securities and Exchange Commission on forms 20-F and 6-K, etc., 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 XFMedia’s beliefs and expectations, are
forward-looking statements. Forward-looking statements involve inherent
risks and uncertainties that could cause actual results to differ
materially from those contained in any forward-looking statements.
Potential risks and uncertainties are risks include but are not limited to,
the China advertising market may not grow as expected and other risks,
outlined in XFMedia’s filings with the U.S. Securities and Exchange
Commission, including its registration statement on Form F-1. All
information provided in this press release is as of the date of this
release, and XFMedia undertakes no duty to update such information, except
as required under applicable law.
For more information:
China
Xinhua Finance Media
Ms. Joy Tsang,
Tel: +86-21-6113-5999
Email: joy.tsang@xinhuafinancemedia.com
United States
Taylor Rafferty John Dudzinsky
Tel: +1-212-889-4350
Email: john.dudzinsky@taylor-rafferty.com
