Article
Disney, Google to invest in Chinese digital signage company
If deal is completed, YUM! Brands's KFC says it is on board to advertise on 2,000 screens.
February 8, 2010
Walt Disney Co. is in advanced talks to buy a stake in China's largest in-bus digital media and advertising company, Bus Online. This deal that could offer the U.S. entertainment giant a new platform to promote Disney in China,three sources told Reuters. Google Inc. was among investors in the Disney-led consortium, the Reuters sources said on Monday.
The consortium planned to buy a stake of between 30 and 40 percent in Bus Online for more than $100 million via a purchase of old and new shares to be issued by the company in private placements, said the sources. According to Reuters, Bus Online is China's No.1 in-bus digital media and advertising company, with revenue of about 314.5 million yuan ($46.07 million) in 2009.
Disney made a deal in November to build a theme park in Shanghai, and the Bus Online network could provide a media foothold through advertising on public transport. Yum! Brands' fried chicken restaurant chain KFC also told Reuters that it would sign a deal with Bus Online to allow the Chinese company to set up screens in KFC's more than 2,000 outlets across China.
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