XFMedia Acquires 30-Year Exclusive Advertising Rights to China Youth Net and 50 Associated Websites
03 Ottobre 2008 - 2:30PM
PR Newswire (US)
BEIJING, Oct. 3 /Xinhua-PRNewswire-FirstCall/ -- XFMedia
(NASDAQ:XFML), a leading media group in China, announced today that
it has obtained 30-year exclusive advertising rights to the China
Youth Net web portal " http://www.youth.cn/ ", one of China's top
youth websites, and 50 associated sites and channels with a total
of five million page views daily. Chinese release download:
http://www.xfmedia.cn/cn/press-center/press-releases/pdf/pr081003_cn.pdf
Under the agreement, XFMedia will be able to sell advertising into
and offer content for all of these sites, including
http://sports.youth.cn/ . XFMedia will also have the right to set
up 600 new advertising billboards on up to 120 university and
college campuses and to organize events, including those on
university campuses, in the name of China Youth Net. XFMedia CEO Ms
Fredy Bush said, "XFMedia plans to link this agreement to its
broadcast strategy, with particular focus on streaming sports
content, which has high interest levels amongst the key demographic
of university students, who are eagerly wooed by advertisers." "The
websites and outdoor media assets provide a focused channel to
reach the educated, upwardly mobile demographic that is at the
heart of XFMedia's business model," Ms Bush said. A report from
Morgan Stanley in June states that Internet users in China now
outnumber those in the US and will total 300 million by the end of
this year. The report said that the majority of Internet users in
China are under 30 years old and that the Internet is the primary
way they receive content. The report also said that the Internet is
powering a huge growth in content consumption amongst young people
in China. A quarter of all China Internet users have college
degrees, compared to only 3% of users of "old media", and have
spending power that appears to significantly exceed that of average
Chinese consumers. Mr. Richard Young, Managing Director of Sports
for XFMedia, said, "the young people in China today want to have a
wider selection of sports programming. These sites and channels
will allow us to reach this audience and entertain them with
different sporting competitions including those from major
international leagues." The website, http://www.youth.cn/, is one
of nine officially designated news portals by China's central
government, and has been granted an online audio and video license
by SARFT (the State Administration of Radio, Film and Television).
The portal http://www.youth.cn/ and its 50 associated sites and
channels include a wide variety of content for visitors including
news, sports, online shopping, chatrooms and blogs. XFMedia will
handle all advertising on all parts of the portal. The agreement
for China Youth Net is for 20 years plus an option of a further 10
years covering exclusive advertising, as well as content,
billboards, and events rights. The agreement on billboards on up to
120 campuses is for 15 years and covers universities in Beijing and
the central city of Wuhan. China Youth Net is owned by China Youth
League, which is a key organization within the Chinese government
structure with about 75 million of members by the end of 2007.
XFMedia will make an initial cash payment of US$3.5 million and
issue 2 million ADS upon signing the Agreement. XFMedia will make a
further cash payment of US$1.5 million and 2 million ADS if certain
conditions are met. For more information: Media Contact Joy Tsang
XFMedia Tel: +86-21-6113-5999 Email: Lindsay Koval AGG
International Tel: +1-212-614-4170 Email: IR Contact Edward Liu
XFMedia Tel: +86-21-6113-5978 Email: Howard Gostfrand American
Capital Ventures Tel: +1-305-918-7000 Toll Free: +1-877-918-0774
Email: About XFMedia Xinhua Finance Media ("XFMedia"; NASDAQ: XFML)
is a leading media group in China with nationwide access to the
upwardly mobile demographic. Through its synergistic business
groups, Broadcast, Print and Advertising, XFMedia offers a total
solution empowering clients at every stage of the media process and
connecting them with their target audience. Its unique platform
covers a wide range of media assets, including television, radio,
newspaper, magazine, outdoor, online and other media assets.
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.xfmedia.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," "expects,"
"anticipates," "future," "intends," "plans," "believes,"
"estimates," "confident" and similar statements. Among other
things, quotations from management in this announcement contain
forward-looking statements. 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
include, but are not limited to, risks outlined in XFMedia's
filings with the U.S. Securities and Exchange Commission, including
its annual report on Form 20. All information provided in this
press release is as of the date hereof, and XFMedia undertakes no
duty to update such information, except as required under
applicable law. DATASOURCE: Xinhua Finance Media CONTACT: Media
Contact - Joy Tsang of XFMedia, +86-21-6113-5999, or ; Lindsay
Koval of AGG International, +1-212-614-4170, or ; IR Contact -
Edward Liu of XFMedia, +86-21-6113-5978, or ; Howard Gostfrand of
American Capital Ventures, +1-305- 918-7000, Toll Free:
+1-877-918-0774, or
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