Focus Media (002027.SZ) plans to acquire 100% of Xinchao Media's shares

Zhitong Finance App News, Focus Media (002027.SZ) announced that the company plans to purchase 100% of Xinchao Media's shares held by 50 counterparties including Zhang Jixue, Chongqing JD, and Baidu Online by issuing shares and paying cash. After the transaction is completed, Xinchao Media will become a wholly-owned subsidiary of the company. The transaction will use share consideration as the main payment method, and the remainder will be in the form of a small amount of cash. As of the signing date of the plan, the audit and evaluation of the target company had not been completed. After preliminary negotiations between the parties involved in the transaction, 100% of the shares of the target company of this transaction are estimated at 8.3 billion yuan.

The main business of the target company of this transaction is similar to that of a listed company. Its main business is the development and operation of outdoor advertising, focusing on outdoor video advertising media and outdoor print advertising media in the middle class community. The resource points are less consistent with listed companies. After the transaction is completed, the listed company will further focus on its main business, expand high-quality resource points, optimize the density and structure of media resource coverage, and further expand the coverage of the company's urban life circle media network.