SinoMedia and CCTV.com Terminate Ad Cooperation

Sohu IT, 4/01/10

SinoMedia Holding (0623.HK) has announced that it has reached a consensus with CCTV to discontinue the advertising cooperation agreement for the national broadcaster's CCTV.com online portal. According to the consensus, SinoMedia will not owe agency fees for the third and fourth quarters of 2009.

The announcement said that the decision to terminate the cooperation was the result of a year of business development and market tests between the two companies. SinoMedia said that it is currently searching for a more feasible business model through which it can continue its relationship with CCTV.com.

The original advertising agreement between SinoMedia and CCTV.com was announced on January 5, 2009. Under the agreement, SinoMedia became the exclusive agent for the entire advertising inventory on CCTV.com's news channel. The agreement's term was to last from January 1, 2009 to March 1, 2013.

Keywords: SinoMedia online advertising Internet CCTV.com 0623.HK

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