6 January news, as China's largest bus subway full coverage outdoor digital mobile TV advertising hookup, CTS Media Group (NASDAQ: VISN) today announced that the company has completed the acquisition of digital media group. Digital Media Group, China's largest metro mobile TV media operator, CTS media this transaction from completing, marking the largest most comprehensive mobile TV advertisement network will officially open. The acquisition price of $ 1.6, contains a cash and stock, in two years into three times, paid to the original digital media group shareholders.
CTS media Chairman and Chief Executive of foreign people said: "on the integration of digital media group is CTS media group strategy development is very important step, through this integration, CTS media outdoor digital mobile TV advertisement NET will be digital media group, a national Metro TV advertisement NET comprehensive, fully integrated, makes a subway, bus TV seamless butt, China and even the world's largest outdoor digital mobile TV advertisement network. This above-ground and underground media network integration for advertisers to provide a new advertising platform and advertisers were unanimously affirmed. New hookup covering China 22 most developed cities of advertising broadcast platform that covers the most core of four first-tier cities, Beijing, Guangzhou, Shenzhen and Shanghai, in addition, the new hookup also cover to Hong Kong – Pearl, this will let the CTS string of pearls necklace becomes more colorful. ”
"Digital media group and CTS media complementary business models, excellent professional qualities and excellent enterprise culture, we firmly believe that both fusion process will be very smooth," CTS media Chief Financial Officer Chen Lim said, "look to the future, we hope to achieve significant synergies. With our two companies further consolidation, the synergistic effects of cooperation between the two sides will further show that the second half of 2010 we are optimistic about the situation. ”
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