HONG KONG, May 23 /Xinhua-PRNewswire-FirstCall/ -- VODone Limited ("VODone" or the "Company") (stock code: 82.HK), a leading tele-media service provider in China, today announces that it entered into an agreement with AirMedia Group Inc. ("AirMedia"; Nasdaq: AMCN) to establish a strategic partnership. Ms Wang Chun, Executive Director of VODone; and Mr James Zhonghua Feng, Chief Operating Officer of AirMedia; signed an agreement for advertising partnership on 21 May 2008 in Beijing.
Successfully listed on the Main Board of the Stock Exchange of Hong Kong in July 2006, VODone is a leading tele-media service provider which conducts internet, telecommunication and media business. VODone is the largest online video advertising media in China. Its professional team offers an integrated platform for online video advertising.
AirMedia focuses on the operation of digital TV screens in airports and on aircrafts. It has contractual concession rights to operate digital TV screens in 52 major airports in Beijing, Shanghai and Guangzhou. It also places its programs on the routes operated by the three largest airlines in China, namely Air China, China Eastern Airlines and China Southern Airlines. AirMedia is the first Chinese air travel digital media network operator listed on NASDAQ.
The strategic partnership between VODone and AirMedia marks the beginning of the cooperation between the two giant media groups. With their sound background in the advertising industry, the partnership will lead to a strong alliance in the advertising market. As a leading tele-media enterprise, VODone is going to join hands with more accomplished partners to penetrate the growing advertising market.
About VODone Limited
Founded in 2005, Vodone Telemedia Co. Ltd., a strategic partner of VODone Limited (0082.HK), is the first and leading online video media group in China. It is also the only enterprise in the PRC to own a complete set of licenses to operate video broadcasting on the Internet. Vodone Telemedia has contracted the technical and promotional services to Vodone Datamedia Technology Co., Ltd for 50 years.
In September 2006, upon the completion of the buy-sell agreement between Dr. Zhang Lijun and VODone Limited, Vodone Datamedia Technology Co., Ltd. and subsidiaries of VODone Limited collaborated to further develop the telemedia service business. Capital Market funds were deployed creating support and laying a solid capital foundation for the development of VODone Limited. Vodone Telemedia supports the broadcast of financial information, entertainment, sports and lifestyle programs through multimedia on the platforms of leading Internet and telecom network operators. Vodone's telemedia streaming video programs can be accessed all over the world, around the clock through the online video portals.
