Focus Media advances asset acquisition, affiliate transaction

Focus Media Information Technology announced it is moving forward with its proposed acquisition of Chengdu Xinchao Media Group Co., Ltd. by issuing shares and paying cash to 50 counterparties, including Zhang Jixue, Chongqing Jingdong Haijia E-commerce Co., Ltd., and Baidu Online Network Technology (Beijing) Co., Ltd. The transaction is not expected to constitute a major asset restructuring but will involve affiliate transactions. The company's board of directors approved the transaction proposal on April 2025. Due diligence, auditing, valuation, and antitrust filings are ongoing. Once completed, the board will reconvene to deliberate the specific transaction plan, followed by a shareholder meeting. The company advises investors to be aware of potential risks and uncertainties, as the transaction is subject to regulatory approvals and registration, and information will be disclosed in accordance with applicable laws.