Charm Communications and Aegis Media China Establish Joint Digital Media Trading Platform
Joint Platform Will Boost Buying Power in China's Advertising Market
BEIJING, June 13, 2011 /PRNewswire-Asia-FirstCall/ -- Charm Communications Inc. (NASDAQ: CHRM) ("Charm" or the "Company"), a leading advertising agency in China, announced today that it has established a joint digital media trading platform with Aegis Media China ("Aegis Media"), the international 4A advertising group. The new platform allows Charm and Aegis Media to consolidate their buying and negotiation activities to gain better scale in China's advertising market, thereby boosting both companies' buying power and increasing the efficiency of digital media investment for clients. The joint trading platform is an extension of Charm's existing partnership with Aegis Media, in which Charm operates the "Vizeum" brand in China.
Charm Communications Founder, Chairman and CEO Mr. He Dang said, "This newly formed alliance builds upon our existing strategy to focus on expanding our digital service capabilities. This strategic partnership serves to formalize the ongoing collaboration between Charm Interactive, the full digital marketing division of Charm Communications, and Aegis Media's digital arm in China, creating synergies between our complementary businesses. These include increasing our efficiency in our digital marketing business, helping our clients achieve better pricing, and sharing research on digital media in order to enhance the overall quality of service to our clients. This ultimately will strengthen our digital trading platform, which will further elevate Charm Interactive's market position."
Nick Waters, CEO of Aegis Media Asia Pacific, expressed confidence in the joint venture stating, "This initiative is another important milestone in our partnership with Charm and represents the second major strategic cooperation between Charm and Aegis Media, demonstrating our confidence in Charm as a trusted, valued partner. Leveraging Charm's deep understanding of the Chinese advertising market, we plan to bring our collective knowledge and expertise from both domestic and international markets for the benefit of our clients."
Safe Harbor Statement
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. All statements other than statements of historical fact in this press release are forward-looking statements and involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These forward-looking statements are based on management's current expectations, assumptions, estimates and projections about the Company and the industry in which the Company operates, but involve a number of unknown risks and uncertainties. Further information regarding these and other risks is included in Charm's filings with the U.S. Securities and Exchange Commission, including its registration statement on Form F-1. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and actual results may differ materially from the anticipated results. You are urged to consider these factors carefully in evaluating the forward-looking statements contained herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by these cautionary statements.
Charm Communications Inc. (NASDAQ: CHRM) is a leading advertising agency in China. Charm operates its business under three brands: Charm Advertising, Charm Interactive, and Shangxing Media. Under the Charm Advertising and Charm Interactive brands, Charm offers integrated advertising agency services from planning and managing advertising campaigns to creating and placing advertisements. Under the Shangxing Media brand, Charm has established a portfolio of television advertising media resources through its exclusive arrangements with premium national television channels, which include not only advertising time but also opportunities for placing branded content. Charm's clients include well-recognized brand names in China across many industries, as well as emerging domestic leading brands. In January 2010, Charm formed a consolidated joint venture with international 4A advertising group Aegis Media, its strategic investor, to operate its brand "Vizeum" in China. In October 2010, Charm also entered into agreement to establish a joint venture with Wasu Digital Group to operate all advertising-related businesses across Wasu's IPTV, 3G mobile TV and broadband TV network platforms. For more information please go to http://ir.charmgroup.cn.
SOURCE Charm Communications Inc.
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