AirMedia Expands Ad Network to Sinopec Stations
National Business Daily, 4/30/09
Chinese digital media network operator AirMedia Group (Nasdaq: AMCN) has signed a cooperation agreement with China Petroleum & Chemical Corporation (Sinopec) that will give AirMedia exclusive media operating rights at over 28,000 Sinopec gas stations, except for service stations in a limited number of cities which still have in effect original contracts with other operators. The contract is effective immediately and will expire on December 31, 2014. AirMedia will incur concession fees payable to Sinopec beginning in the third quarter of 2009.
Sinopec is the operator of China's largest network of service stations, with more than 28,000 retail service stations nationwide.
AirMedia plans to install advertising mediums such as scrolling light boxes in at least 3,500 service stations in provincial capitals and other developed cities throughout China by the end of 2011, and in at least 8,000 service stations during the contract period.
Keywords: advertising AirMedia AMCN Sinopec television out-of-home display
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