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My Internet Notebook

a journal on software, mobile, marketing

Focus Media Buys into Online Advertising

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Xinhua-PRNewsWire reported that China’s largest out-of-home multi-platform life-style media company Focus Media (Nasdag: FMCN), has announced that it has entered into a definitive agreement to acquire Allyes Information Technology Company Limited, the largest internet advertising service company in China. This acquisition will enable Focus Media to enter China’s growing Internet advertising market.

According to a new report released by China Internet Association, the online advertising market in China reached RMB $4.98 billion in 2006, and is projected to grow at 50% annual rate to reach $11 billion in 2008. No surprise that FMCN wants a piece of the action as well.

Written by Y.

March 2nd, 2007 at 4:33 pm

Posted in China,Internet

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