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Focus Media
Company typePublic
SZSE: 002027
IndustryAdvertising
Founded2003
HeadquartersShanghai, China
Key people
Jason Jiang, Chairman
Zhi Tan, CEO
Mingdong Wu, CFO
Congrong Chen, COO
Revenue$68.229 million USD (2005)
$22.786 million USD (2005)
$23.548 million USD (2005)
Number of employees
3548
Websitehttp://www.focusmedia.cn

Focus Media Information Technology, formerly Focus Media Holding, is a Chinese company which operates out-of-home advertising in China which consist predominantly of digital signage screens and claims to own the country's largest Internet advertising agency.

Alleged fraud

In November 2011, Muddy Waters Research reported massive fraud and corruption within the company.[1] Focus denied the allegations. In May 2013, the company was subsequently taken private and delisted rom the Nasdaq by a private equity consortium that included FountainVest Partners, The Carlyle Group, China Everbright and CITIC Capital.[2]

In June 2015, Focus Media reached a $7.4 Billion deal to list on Shenzhen Stock Exchange via reverse merger.[3]

References

  1. ^ Soham Chatterjee and Ryan Vlastelica (21 November 2011). "Focus Media plunges after Muddy Waters charges". Reuters. Retrieved 25 November 2011.
  2. ^ "Focus Media accepts US$3.7b buyout offer". South China Morning Post. 2012-12-21. Retrieved 2023-06-22.
  3. ^ Gough, Neil (2015-06-03). "Focus Media Reaches $7.4 Billion Deal to List in Shenzhen". The New York Times. ISSN 0362-4331. Retrieved 2023-06-22.

External links

Constituents of the SZSE 100 Index
The Carlyle Group
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