FOCUS BUYS DIGITAL IN-STORE AD NETWORK FOR $US350 MILLION
December 13th 2007 11:30
Focus Media will pay US$350 million in cash and shares for China’s in-store digital advertising network, CGEN Digital Media.
Marketing reports that under the agreement, Focus Media, China's largest digital outdoor media group, will acquire 100 percent of the equity of CGEN for US$168.4 million in cash, and an additional payment of up to US$181.6 million, part in cash and part in Focus Media ordinary shares.
The transaction is expected to close in the first quarter of 2008.
- From MediaBlab
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