Focus Media
Focus Media Information Technology, formerly Focus Media Holding, is a Chinese company which operates out-of-home advertising in China which consist predominantly of digital signage screens and claims to own the country's largest Internet advertising agency.
| Type | Public |
|---|---|
| SZSE: 002027 | |
| Industry | Advertising |
| Founded | 2003 |
| Headquarters | Shanghai, China |
Key people | Jason Jiang, Chairman Zhi Tan, CEO Mingdong Wu, CFO Congrong Chen, COO |
| Revenue | $68.229 million USD (2005) |
| $22.786 million USD (2005) | |
| $23.548 million USD (2005) | |
Number of employees | 3548 |
| Website | http://www.focusmedia.cn |
Alleged fraud
In November 2011, Muddy Waters Research reported massive fraud and corruption within the company.[1] Focus denied the allegations. On May 2013, the company was subsequently taken private and delisted rom the Nasdaq by a private equity consortium that included FountainVest Partners, The Carlyle Group, China Everbright and CITIC Capital.[2]
In June 2015, Focus Media reached a $7.4 Billion deal to list on Shenzhen Stock Exchange via reverse merger.[3]
References
- Soham Chatterjee and Ryan Vlastelica (21 November 2011). "Focus Media plunges after Muddy Waters charges". Reuters. Retrieved 25 November 2011.
- "Focus Media accepts US$3.7b buyout offer". South China Morning Post. 2012-12-21. Retrieved 2023-06-22.
- Gough, Neil (2015-06-03). "Focus Media Reaches $7.4 Billion Deal to List in Shenzhen". The New York Times. ISSN 0362-4331. Retrieved 2023-06-22.
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