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Legend Media's Subsidiary Enters into Advertising Contract with Sinobo Group for RMB 1,050,000 (US$153,733)
Feb 25, 2010 (03:02 PM EST)
BEIJING, Feb. 25 /PRNewswire-Asia/ -- Legend Media (OTC Bulletin Board: LEGE) ("Legend Media" or "the Company"), a Chinese multi-media advertising company, today announced that the Company's subsidiary Beijing Yin Se Ling Dong Advertising Co., Ltd. has signed a contract with Sinobo Group in the amount of RMB 1,050,000 (approximately US$153,733 based on the exchange rate as of the date of this press release) for the advertising of its Heritage Estate Project.
Sinobo Group, established in 2005, is a diversified corporation mainly engaged in the development of energy and real estate, with its headquarters located in Beijing, China and a number of branches in and outside China. Real estate development is one of Sinobo Group's core businesses. Its representative investment and developments projects include Latitude 40 Degrees N, a residential project in Chaoyang District of Beijing; Heritage Estate, a residential project in the humane community of Haidian District, Beijing; Xinhuamao M-TOWN, a new landmark project in the business center of Tangshan; Sanya Hongtang Bay, a tourism real estate project in Sanya, China; and City Scenery, a high-class apartment project in Scottsdale / Phoenix, Arizona.
Mr. Ju Baochun, Chief Executive Officer and Director of Legend Media, commented, "It is very exciting for Legend Media to embark on an advertising campaign on behalf of Sinobo Group and their Heritage Estate Project. We anticipate that through our strategic nationwide channels we will be able to increase public recognition of their great residential community and bring value to the project and company as a whole. This contract is further validation of Legend's success as a premier advertising company in China and its continued growth going forward."
About Legend Media
Legend Media, Inc. (OTC Bulletin Board: LEGE), headquartered in Beijing, is a leading China advertising company focused on selling advertising that reaches affluent consumers in China through major airline magazines and radio channels in key districts of China. The Company currently owns an exclusive sales agent contract for Expression, the airline magazine for Hainan Airlines Group (HNA Group). With the execution of the policy of building Hainan into an International Tourist Island, there will be more business opportunities for the airline magazine. What's more, the airline magazine is distributed to a network of the subsidiary hotels of HNA Group, which enables the airline magazine to reach 20 million direct readers and cover 30 million to 40 million readers indirectly per year.
Aside from the main business, Legend Media owns two radio stations in Tianjin and Xi'an. The execution of the policy of developing the Ring Bohai Economic Circle brings Tianjin opportunities to further develop, enabling radio media to have great growth potential. Xi'an is an old city in China and with the development of Xi'an economy, the radio business of Xi'an will have new business opportunities.
Legend Media will continue to develop a sales network and strive to cover and eventually reach the most valuable direct advertisers in China and expand the sales business of the Company through the acquisition of new and good-quality media.
Safe Harbor Statement
This press release contains certain statements that may include 'forward-looking statements' as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes, expects, anticipate, optimistic, intend, will" or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with and available from the Securities and Exchange Commission. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
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SOURCE Legend Media, Inc.