News

Focus Media restructures in-store digital advertising business

December 9, 2008

BEIJING — Focus Media Holding Ltd., China's largest out-of-home multi-platform lifestyle media company, today announced its plan to restructure the in-store digital advertising business of CGEN Digital Media Network Co. Ltd., a Chinese digital advertising network operator. As a result, Focus Media will incur approximately $200 million in the fourth quarter for the restructuring.

Focus Media also announced the termination of its remaining wireless advertising business. It will make a provision of about $20 million for that in the last quarter. CGEN was acquired by Focus Media at the start of this year.