China Digital Media's subsidiary Guangdong HuaGuang DigiMedia Culture Development Limited has entered into an agreement to purchase Guiyang Classic and Fashion Advertising Company.
HuaGuang all acquire all of Guiyang's media related businesses, assets, business contracts and management.
Guiyang is a television program production and advertising company in China.
HuaGuang will pay approximately US $2.2 million, via a combination of cash and the company's common stock,
subject to adjustment in the event that the acquired assets generate a profit less than approximately $2.5 million in the next 2 years.
Guiyang has produced television programs for different television channels, including a "true man show," as well as adventure, nature and tourism productions, for which they have obtained several of the national awards in the last few years.