Focus Media Group (Stock Code: 002027.SZ) has officially announced its plan to acquire 100% of Xinchao Media in a deal valued at approximately 8.3 billion CNY (around 29.05 trillion VND or 1.13 billion USD). The transaction will be executed through a combination of share issuance and cash payment. Current shareholders of Xinchao Media include individual investor Mr. Zhang Jixue, along with major corporations such as JD Chongqing and Baidu Online.

Upon completion, Xinchao Media will become a wholly owned subsidiary of Focus Media. This strategic move is aimed at solidifying Focus Media’s leading position in the out-of-home (OOH) advertising sector, especially in the elevator advertising segment across China.

Xinchao Media primarily operates in video and printed outdoor advertising, targeting middle-class consumers. It manages a network of 700,000 elevator screens across more than 100 cities throughout China. However, the company has faced consecutive revenue declines and continued losses during the first three quarters of 2022, 2023, and 2024.