Brief: Press Release - Airmedia announces the sale of 20.32 PCT of its advertising business and realignment of its business components

Yueda Digital Holding

06/11/2018 13:43

Nov 6 (Reuters) - Airmedia Group Inc  AMCN.O :
    * PRESS RELEASE - AIRMEDIA ANNOUNCES THE SALE OF 20.32 PCT
OF ITS
ADVERTISING BUSINESS AND REALIGNMENT OF ITS BUSINESS COMPONENTS
    * AIRMEDIA GROUP INC - INITIAL TRANSFER PRICE IN DEAL OF
RMB580
MILLION IN CASH
    * AIRMEDIA GROUP INC - AMONG TOTAL INITIAL CONSIDERATION,
CONSIDERATION PAYMENT OF RMB200 MILLION WILL BE MADE IN THREE
INSTALLMENTS PURSUANT TO AGREEMENT
    * AIRMEDIA GROUP INC - DECIDED TO TERMINATE ITS BUSINESS ON
BUS
WI-FI NETWORKS AND GAS ADVERTISING BUSINESS
    * AIRMEDIA GROUP INC - DECIDED TO CUT DOWN ITS TRAIN WI-FI
NETWORKS BUSINESS
    * AIRMEDIA GROUP INC - MAY TERMINATE TRAIN WI-FI NETWORKS
BUSINESS
WHEN MANAGEMENT OF COMPANY DEEMS NECESSARY

Source text for Eikon:  ID:nPn3nJYlna 
Further company coverage:  AMCN.O 

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