BEIJING, Dec. 1, 2010 /PRNewswire-Asia-FirstCall/ -- Charm Communications Inc. (Nasdaq: CHRM) ("Charm" or the "Company"), a leading advertising agency in China, today announced that the Company has signed an exclusive advertising agency agreement with Beijing Gehua Cable TV Network Co., Ltd. ("Gehua Cable") to operate digital media advertising on its interactive HDTV platform.
Gehua Cable is a leading digital cable TV operator in Beijing, with a large-scale cable network reaching over 4 million subscribers across 100 channels. Beijing Gehua Interactive HDTV has accumulated over one million subscribers since its pilot launch in September 2009, making Beijing the largest HDTV market in China today. Gehua Cable expects that the number of HDTV subscribers will reach 1.3 million by the end of 2010 and that within the next three years its HDTV network will cover all six districts in central Beijing.
"We are excited to make this carefully considered move into the rapidly growing new media space with a leader in the strategically significant Beijing market," commented Mr. He Dang, founder, chairman and CEO of Charm. "This agreement, alongside our recently announced Wasu Digital joint venture, strategically positions Charm as a pioneer in the digital cable TV advertising market. As the television industry transitions from analogue to digital on-demand broadcasting, we look forward to playing a key role in helping to establish industry standards."
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 joint venture with international 4A advertising group Aegis Media, its strategic investor, to operate its brand "Vizeum" in China. In October 2010, Charm also formed 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.
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