Sina CEO Reveals Three Options for Sina-Focus Merger

ChinaByte, 9/01/09

CEO Charles Chao of Chinese online media company Sina (Nasdaq: SINA) has said that the company's planned merger with Chinese digital media group Focus Media (Nasdaq: FMCN) is unlikely to be approved by the Ministry of Commerce before the end of the month. Chao revealed that Sina is currently fielding 3 backup plans: 1) Continue to pursue the merger and extend the transaction period until the merger is completed. Sina is currently in discussion with Focus executives on whether or not to pursue this course of action. 2) Propose a new plan which would not require a complete merger between the two companies, the details of which Chao declined to divulge. 3) Sit back and watch quietly as events unfold.

Chao said that Sina would do its best to ensure that the merger goes through.

Keywords: Charles Chao Focus Media Internet online media Ministry of Commerce Sina FMCN out-of-home display M&A

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