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Focus Media Will Sell Subsidiary To Competitor
December 9, 2008 |
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Comments | Category: Business
Chinese digital media and advertising company Focus Media (FMCN) will sell its subsidiary Sports Media to its competitor Goodmedia.
According to local media reports, Sports Media is a Chinese advertising agency developing and providing advertising opportunities in fitness centers. Focus Media acquired the company in March 2008. An insider who is close to the high level of Focus Media says that since the Focus Media Wireless spam messages incident earlier this year, Focus Media has been considering adjusting its acquisition strategy and is also thinking about contracting its resources.
Depending on the fitness and sports industry, Goodmedia has expanded its media network to 1,724 fitness centers in 37 Chinese cities. Of these fitness centers, 640 are located in Beijing, Shanghai, Guangzhou and Shenzhen and 1,084 are located in 33 second-tier cities. So far, Goodmedia has developed its media services into many other industries, including automobile, finance, real estate, communications, IT, medicine, apparel, retail chain, cosmetics, and fast-moving consumer goods.
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