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Sina to buy a chunk of Focus MediaPosted by Jeremy Goldkorn on Monday, December 22, 2008 at 6:03 PM
Caijing magazine's websites confirms rumors that have been swirling around tech and media circles over the weekend: Internet giant Sina is to acquire a part of Focus Media, the company that operates most of the digital screens that display annoying advertising in Chinese office buildings and other out of home locations. According to the Caijing article, Sina will pay USD 1 billion to acquire for an unspecified 'part' of Focus Media. Both companies are listed on NASDAQ. The article says the deal will be confirmed in an announcement to be made tonight. The deal could give Sina a real competitive advantage over other big new media players in China. Update: Bloomberg has released a story about the deal:
According to the report, the 'part' may be Focus Media's "digital out-of-home operations, which sell advertising in elevators and office buildings". What else is left of Focus Media once that part is sold? Links and Sources
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Comments on Sina to buy a chunk of Focus Media
The part that's left would presumably be Allyes, the biggest ad server in China, which Focus had planned to spin off and list separately -- or at least that was the plan earlier this year. I just heard this bit of news and need to read up...
It's a bit of a red herring, but I've always wondered who gets the revenue from the space Focus Media operates in residential compounds: the building management or the residents? How much revenue is typically involved? Do residents / owners benefit in any way from their shared space being used? Or are they just helpless victims of media clutter?