XFMedia to Sell Hyperlink Research to INTAGE Inc.
23 Enero 2009 - 4:00AM
PR Newswire (US)
Sharpening its focus on sports broadcast business BEIJING, Jan. 23
/PRNewswire-Asia-FirstCall/ -- XFMedia (NASDAQ:XFML), a leading
media group in China, announced today that it has entered into a
memorandum of understanding to sell all of the outstanding equity
interests in Shanghai Hyperlink Market Research Co Ltd, a leading
market research company in China, to INTAGE Inc., a Tokyo-based
market research leader in Japan, for a purchase price of
1,050,000,000 Yen (approx. USD 11.86 million). 'While Hyperlink has
continued to build on its reputation as a leading market research
company in China, we have decided to focus our resources on our
high margin broadcast business with a particular focus on sports,'
said Ms. Fredy Bush, XFMedia CEO. 'We believe this transaction
provides the best environment for both XFMedia and Hyperlink to
achieve a new level of success.' Established in 1997, Hyperlink is
a leader in consumer trends research and data in the fast-growing
China market. The sale is subject to execution by the parties of a
binding sale and purchase agreement, which is expected to occur by
January 31, 2009. 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-F. 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. For more information, please contact: 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 +1-877-918-0774, (Toll Free)
DATASOURCE: Xinhua Finance Media CONTACT: Media, Joy Tsang of
XFMedia, +86-21-6113-5999, ; or Lindsay Koval of AGG International,
+1-212-614-4170, ; or Investors, Edward Liu of XFMedia,
+86-21-6113-5978, ; or Howard Gostfrand of American Capital
Ventures, +1-305-918-7000, +1-877-918-0774, (Toll Free),
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