HONG KONG (Business Wire) -- Enjoy Media Holdings Limited (Pink Sheets:EJYM) announced today that it has completed 2 acquisitions: (1) a 60% stake in Guangzhou Enjoy Tianhua Advertising Limited; (2) a 51% stake in Guangzhou Faxian Media Limited.
Guangzhou Enjoy Tianhua Advertising Limited ("Tianhua"), an outdoor advertising company based in Guangzhou, China, manages outdoor advertising displays located at the Guangzhou train station, where commuters average over 150,000 daily, and over 300,000 daily during holidays. It has signed an exclusive arrangement with the Guangzhou train station through to the year 2014. 60% of Tianhua was purchased with the issuance of 1,778,916 EJYM restricted common shares at $0.347 per share. An additional 1,423,134 EJYM shares are payable upon achievements of certain performance targets.
Guangzhou Faxian Media Limited ("Faxian", www.faxian.net), is a television production and advertising company, based in Guangzhou, China. It purchases timeslots from television stations to air its programs, and sells advertisement slots of the television programs to its advertisers. Faxian's major customers include the municipal departments, real estate projects, and consumer brands. 51% of Faxian was purchased with the issuance of 1,798,942 EJYM restricted common shares at $0.35 per share.
The acquisitions expand EJYM's business scope, and are expected to increase consolidated revenues by $240,000 and net income by $60,000.
About Enjoy Media Holdings Limited
Enjoy Media Holdings Limited is a media and advertising company based in Guangzhou, China. It provides a medium for its clients to reach the young urban and white-collar audience, in the cities of Guangzhou, Shanghai, Beijing, and Shenzhen in PR China. Its clients include: China Telecom, China Mobile, China Unicom, Wrigley, Siemens, Samsung, Dell, numerous other consumer brands, and real estate developers. For more information, please visit http://www.enjoymedia.com.
Forward looking statement
Certain information contained in these materials is "forward-looking" information, such as projections, estimates, pro formas, or statements of intentions, expectations or plans. All forward-looking information is subject to known and unknown risks and uncertainties, many of which are outside of the control of the company. Consequently, actual results may, and probably will, differ materially from the results contemplated in such forward-looking information.
Enjoy Media Holdings Limited
Mr. Zhongwen Chen, (86)20-8752181
fax: (86)20-38772113
email: ir@enjoymedia.com
© Business Wire
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