New Contract brings real-time broadcast of television and advertising to buses in the City of Xiamen
BEIJING, Oct. 16 /PRNewswire-Asia/ -- VisionChina Media Inc. ("VisionChina" or the "Company") (Nasdaq: VISN), one of China’s largest out-of-home digital television advertising networks on mass transportation systems, today announced that it has signed an exclusive agreement expanding its network coverage to include Xiamen, a city of 2.5 million residents that is designated as one of China’s few special economic zones.
Mr. Limin Li, chairman and chief executive officer of VisionChina Media said, "Xiamen is one of the more prosperous cities in southeastern China. Digital mobile television has been operated in Xiamen for many years and recently the city began upgrading the technological capability of its bus network to allow receipt of real-time broadcast. In a city with competition for the bus network, VisionChina is extremely pleased to have been chosen as the first to partner with the local TV station to provide real-time television and advertising on digital mobile TVs on buses to the people of Xiamen. Establishing ourselves in Xiamen is an important strategic move for VisionChina Media and our extension into that city enhances our leading market position and allows national and international advertising clients access to an economically important region of China."
The three-year exclusive agreement went into effect on October 1, 2009 and grants VisionChina the right to sell a minimum of 100 advertising minutes per day to non-Xiamen-based national advertisers during 18 hours of daily programming supplied by Xiamen TV Digital Media Co. Ltd. The Xiamen network features 1,800 screens and an impressive fleet of over 1,100 buses. According to the Xiamen Bureau of Statistics, in 2008 Xiamen had a total GDP of RMB156 billion, or approximately US$22.8 billion.
About VisionChina Media Inc
VisionChina Media Inc. (Nasdaq: VISN) operates an out-of-home advertising network on mass transportation systems, including buses and subways that reaches over 40 million viewers each day in China, according to CTR Market Research. As of June 30, 2009, VisionChina Media’s advertising network included 82,349 digital television displays on mass transportation systems in 18 of China’s economically prosperous cities, including Beijing, Guangzhou and Shenzhen. VisionChina Media has the ability to deliver real-time, location-specific broadcasting, including news, stock quotes, weather and traffic reports and other entertainment programming. For more information, please visit http://www.visionchina.cn .
For investor and media inquiries, please contact:
In China:
Mrs. Helen Plummer
Investor Relations Officer
VisionChina Media Inc.
Tel: +86-139-1167-2124
Email: helen.plummer@visionchina.cn
Mr. Derek Mitchell
Ogilvy Financial, Beijing
Tel: +86-10-8520-6284
Email: derek.mitchell@ogilvy.com
In the United States:
Ms. Jessica Barist Cohen
Ogilvy Financial, New York
Tel: +1-646-460-9989
Email: jessica.cohen@ogilvypr.com
