Hunan TV & Broadcast to Acquire Mobile Ad Firm EWing

Hunan TV & Broadcast Intermediary, 8/27/14

Provincial cable TV operator Hunan TV & Broadcast Intermediary (000917.SZ) has announced plans to acquire a 51% stake in mobile advertising firm EWing Information Technology for RMB 167.4 mln in an effort to expand the company's mobile internet new media business.

EWing, founded in 2003, is primarily involved in online marketing, including mobile advertising, mobile game joint operation, and offline mobile app promotions. EWing has several marketing service platforms including a WAP media sales platform, app sales platforms, O2O platforms, and mobile game joint operation and distribution platforms. From 2012 until present, EWing-powered app downloads have recorded over 93 mln user registrations.

For the full year 2013, EWing had total assets of RMB 35.18 mln, net assets of RMB 9.65 mln, and operating revenue of RMB 113 mln.

Editor's Note: For more information on this topic, please see "Hunan TV & Broadcast Purchases 23% Stake in Guangzhou Digital Media Group," MD 8/02/14 issue.

Keywords: mobile advertising app store EWing revenue wireless Hunan TV & Broadcast Intermediary 000917.SZ O2O mobile gaming M&A television

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