China New Media Announces $2.8 Million Advertising Contract for LED Screen at Beijing Capital International Airport
Official Launch of First 150 Square Meter LED Screen in Beijing Capital International Airport
DALIAN, China, Oct. 31, 2011
DALIAN, China, Oct. 31, 2011 /PRNewswire-Asia/ -- China New Media Corp. (OTCBB: CMDI) (the "Company"), China's fast-growing advertising media company with current outdoor media network located in Dalian, Shenyang, Tianjin, Shanghai and Beijing, today announced the official launch of the first LED screen located at the Beijing Capital International Airport with 150 square meters in size, or approximately 1,1614 square feet. The Company has signed a one-year advertising contract effective October 1, 2011 valued at RMB18 million or approximately $2.8 million.
This exclusive agreement has been signed with Henan Dayou Energy Co., Ltd. ("Henan Dayou"), a subsidiary of Henan Yimei Group. Henan Dayou is listed on the Shanghai Stock Exchange and is engaged in coal mining and the processing and wholesale of coal. Located at the intersection of Terminals 1 and 2 at Beijing Capital International Airport, this 150 square-meter LED screen represents the first and largest digital screen at the airport. The annual traffic of Beijing Airport is estimated at 60 million people, of which approximately 45% will be exposed to the LED screen.
"The official launch of our LED billboard at Beijing Capital International Airport marks a significant milestone for China New Media," stated Mr. James Wang, Chairman and CEO of China New Media. "We are proud of the aesthetic design of our screen and we are pleased to have Henan Dayou as our client and partner. We believe that we will significantly enhance our brand name by having this high profile media space located at one of the busiest districts of Beijing, and further establish our footprint outside of our headquarters, Dalian."
About China New Media Corp.
Founded in September 2000, Dalian Vastitude Media Group Co., Ltd., now known as China New Media Corp., is headquartered in Dalian, the commercial center of Northeastern China. The company owns and operates the city's largest outdoor media network encompassing over 600 bus shelters furnished with billboards and displays; 130 taxi stops with displays; and 13 large-size billboards, including 3 large-size LED displays at major traffic conjunctions. The company also furnishes more than 400 buses with advertising posters and 28 metro-trains throughout Dalian Metro Lines. China New Media provides comprehensive adverting services from art design to ad publishing, from daily maintenance to technical upgrading. Launched in Dalian in 2009, China New Media's proprietary LED multimedia display network, City Navigator®, is one of the country's first web-based outdoor advertising networks.
This press release may contain certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact included herein are "forward-looking statements", including statements regarding the Company's ability to meet its obligations under its various contracts; the timeliness of payments and other economic benefits the Company expects to receive under such contracts; and the Company's ability to maintain its customer relationships and to maintain its ability to pursue its commercial objectives. In addition, the Company's operations are conducted in the PRC and, accordingly, are subject to special considerations and significant risks not typically associated with companies in North America and Western Europe such as risks associated with, among others, the political, economic and legal environment and foreign currency exchange. The Company's results may be adversely affected by changes in the political and social conditions in the PRC and by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion, remittances abroad, and rates and methods of taxation. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
Rita Jiang, Executive Vice President of Finance
Alliance Advisors, LLC
Alan Sheinwald, Founder & President
SOURCE China New Media Corp.