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AirMedia Group Inc., a leading operator of out-of-home advertising platforms in China targeting mid-to-high-end consumers, announced that it has entered into an agreement with Asiaray Advertising Media Ltd. and Guangxi Civil Aviation Development Co., Ltd. to form a joint venture that exclusively operates various media resources in four airports in China’s Guangxi province. These four airports are Nanning Wuxu International Airport, Guilin Liangjiang International Airport, Liuzhou Bailian Airport and Beihai Fucheng Airport. Guangxi Civil Aviation Development Co., Ltd. is a wholly-owned subsidiary of Guangxi Airport Group, which owns and operates these four airports.
Under the joint venture agreement, the joint venture will have an exclusive right to develop, reform, and operate the media resources in these four airports. According to the agreement, the joint venture’s exclusive operating right has an initial term of eight years, from July 1, 2012 to June 30, 2020, and will be extended for another eight years unless there is material breach of the agreement.
“Our expertise in airport media development and operations will help these airports to maximize their media value potential. AirMedia’s strong sales and marketing resources are expected to help to significantly raise the advertising revenues of these four airports’ media assets. We believe that the joint venture sets a positive example for other airports interested in exploring their full media value potential,” commented Herman Guo, chairman and chief executive officer of AirMedia.
Other than the joint venture with Guangxi Airport Group, AirMedia also has a similar joint venture with China Eastern Airlines. In addition, AirMedia has an exclusive right to operate all the media resources in Wenzhou Yongqiang Airport until December 31, 2013; that airport’s media value and advertising revenues have been substantially increased after AirMedia took over the operations of their media resources since 2008.
Tatiana is the news co-ordinator for TravelDailyNews Media Network (traveldailynews.gr, traveldailynews.com and traveldailynews.asia). Her role includes to monitor the hundrends of news sources of TravelDailyNews Media Network and skim the most important according to our strategy. She holds a Bachelor degree in Communication & Mass Media from Panteion University of Political & Social Studies of Athens and she has been editor and editor-in-chief in various economic magazines and newspapers.
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