Xinhua Finance Media has acquired a 100% interest in Convey Advertising Company, an outdoor advertising operator in Hong Kong and across southern China for an initial US$33 million. The company stated that the deal “expands XFMedia’s outdoor advertising network to seven additional cities and includes significant high traffic and key transit routes linking mainland China with Hong Kong and Macau”. Additional payments may be made to Convey depending on performance.

Source: XFML press release – Business Strategies Group, Hong Kong

BIIA Newsletter July – 2007 Issue