Focus Media progresses in asset acquisition via share issuance

Focus Media Information Technology (SZSE:002027) announced advancements in its proposed acquisition of assets through the issuance of shares and cash, specifically targeting Chengdu Xinchao Media Group. The company is acquiring 100% equity from 50 transacting parties, including Zhang Jixue, Chongqing Jingdong Haijia E-commerce Co., Ltd., and Baidu Online Network Technology (Beijing) Co., Ltd. The transaction, approved at an April 2025 board meeting, is proceeding with due diligence, auditing, and regulatory filings. While the transaction is not expected to constitute a material asset restructuring or a relisting, it does involve related-party transactions. Focus Media cautions that the deal remains subject to shareholder approval and regulatory clearances.