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CORRECTION: Press Release: AirMedia Provides Update on Cooperation with China Eastern Airlines

2019-01-04 21:30 1214

BEIJING, Jan. 4, 2019 /PRNewswire/ -- AirMedia Group Inc. ("AirMedia" or the "Company") (Nasdaq: AMCN), an operator of out-of-home advertising platforms in China targeting mid-to-high-end consumers as well as a first-mover in the travel Wi-Fi market, today announced that the original press release captioned "AirMedia Provides Update on Cooperation with China Eastern Airlines" published on December 14, 2018 referred to the wrong name of the cooperation party. This press release corrects the reference to the cooperation party from "China Eastern Airlines" to "China Eastern Airlines Media Co., Ltd."

Set out below is the corrected press release in its entirety with the relevant updates being underlined

AirMedia Provides Update on Cooperation with China Eastern Airlines Media Co., Ltd.

BEIJING, Dec. 14, 2018 /PRNewswire/ -- AirMedia Group Inc. ("AirMedia" or the "Company") (Nasdaq: AMCN), an operator of out-of-home advertising platforms in China targeting mid-to-high-end consumers as well as a first-mover in the travel Wi-Fi market, today announced EASTO APP came online on selected airplanes operated by China Eastern Airlines. As part of the strategic collaborations between the Company and China Eastern Airlines Media Co., Ltd. (the "CEA Media"), EASTO APP was created jointly as an Internet empowered in-flight entertainment connectivity platform enabling China Eastern Airlines to provide its travelers with streaming multimedia, e-commerce, and other customized and interactive experiences. While operating and maintaining the platform, AirMedia is devoted to work with CEA Media to further integrate available resources to enrich travelers' experience.

Zhou Peng, Vice President of Marketing Public Relations of AirMedia commented that a seamless integration of an in-flight entertainment system and a high-speed Internet connectivity made EASTO APP a choice travelers will benefit from. While providing travelers with convenience to connect to the Internet in-flight, EASTO APP made it possible for the airlines to embrace not only an upgrade from IFE to IFEC, but also a diversified revenue. With respect to the Company, EASTO APP marked a breakthrough in our efforts to build an ecosystem around in-flight connectivity offering endless business possibilities.

Mr. Herman Guo, CEO of AirMedia commented that as a milestone, EASTO APP clearly portrayed a futuristic in-flight interactive entertainment empowered by mobile Internet. Devoted to further improve travelers' experience, EASTO APP stepped up from traditional IFE by integrating interactive contents in multimedia formats. While managing the operations and the contents on EASTO APP, we plan to devote our competence in technology, integration of resources and proficiency in operation to work with CEA Media to integrate EASTO APP into globally recognized entertainment system in-flight.

About AirMedia Group Inc.

Incorporated in 2007 and headquartered in Beijing, China, AirMedia Group Inc. (AMCN) is an operator of out-of-home advertising platforms in China targeting mid-to-high-end consumers as well as a first-mover in the travel Wi-Fi market. AirMedia sells advertisements on the routes operated by several Chinese airlines and also has concession rights to operate the Wi-Fi systems on trains administered by several railway administrative bureaus in China. For more information, please visit http://www.airmedia.net.cn.

Forward-Looking Statements

This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, the Company's business strategies and initiatives as well as the Company's business plans; the Company's future business development, results of operations and financial condition; expected changes in the Company's revenue and certain cost or expense items; trends and competition in China; general economic and business conditions in China; and other risks detailed in the Company's filings with the Securities and Exchange Commission. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results.

For more information, please contact:

Company Contact: 
Yan Liu   
Director, Investor Relations   
AirMedia Group Inc.   
Tel: +86-10-8460-8678   
Email: ir@ihangmei.com

Investor Contact:  
Tina Xiao  
President  
Ascent Investor Relations LLC  
Phone: +1-917-609-0333  
Email: tina.xiao@ascent-ir.com

Cision View original content:http://www.prnewswire.com/news-releases/correction-press-release-airmedia-provides-update-on-cooperation-with-china-eastern-airlines-300772866.html

Source: AirMedia Group Inc.
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