DALIAN, China, April 13, 2011 /PRNewswire-Asia/ -- China New Media Corp. (OTCBB: CMDI) (the "Company"), China's fast-growing advertising media company with current outdoor media network located in Dalian, Shenyang, Tianjin and Shanghai, today announced the construction of a 400 square meter billboard in the Development Zone of Dalian City. Construction is expected to be completed in May 2011 at a cost of approximately RMB 400,000 and generate annual revenue of approximately RMB 1.2 million beginning in June 2011.
Upon completion, this would be the Company's second grid-type billboard, a simple and modern advertising platform that blends harmoniously with the local environment, in the Development Zone of Dalian City. The first billboard, built in 2005, on Zhenxing Road in the same Development Zone of the City, has become a landmark and part of the city's aesthetic scenery since its completion, which prompted the local Government to ask the Company to construct a second.
The construction of this second billboard strengthened the commitment to China New Media's motto -"Build New Urban Home", in that clients are not only provided a one-stop shop of advertising platforms, but cities are also provided with a more modernized landscape and bolster its development. Upon completion, the projects will further increase the Company's media exposure in Dalian City providing leverage for other advertising platforms.
"It is with great honor and pleasure to be chosen by the PRC Government to add another grid-type billboard in the Development Zone of Dalian City," stated Mr. James Wang, Chairman and CEO of China New Media. "We hope that the new billboard will garner the same popularity as the one constructed on Zhenxing Road in Dalian City. It is our intent to be a good citizen of the City of Dalian by contributing not only to the city's financial success, but also to its landscape modernization. We look forward to working with the Government on future projects."
About China New Media Corp.
Founded in September 2000, Dalian Vastitude Media Group Co., Ltd., now known as China New Media Corp., is headquartered in Dalian, the commercial center of Northeastern China. The company owns and operates the city's largest outdoor media network encompassing over 600 bus shelters furnished with billboards and displays; 130 taxi stops with displays; and 13 large-size billboards, including 3 large-size LED displays at major traffic conjunctions. The company also furnishes more than 400 buses with advertising posters and 28 metro-trains throughout Dalian Metro Lines. China New Media provides comprehensive adverting services from art design to ad publishing, from daily maintenance to technical upgrading. Launched in Dalian in 2009, China New Media's proprietary LED multimedia display network, City Navigator®, is one of the country's first web-based outdoor advertising networks.
This press release may contain certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact included herein are "forward-looking statements", including statements regarding the Company's ability to meet its obligations under its various contracts; the timeliness of payments and other economic benefits the Company expects to receive under such contracts; and the Company's ability to maintain its customer relationships and to maintain its ability to pursue its commercial objectives. In addition, the Company's operations are conducted in the PRC and, accordingly, are subject to special considerations and significant risks not typically associated with companies in North America and Western Europe such as risks associated with, among others, the political, economic and legal environment and foreign currency exchange. The Company's results may be adversely affected by changes in the political and social conditions in the PRC and by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion, remittances abroad, and rates and methods of taxation. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. 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 the Securities and Exchange Commission and available on its website at http://www.sec.gov. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
SOURCE China New Media Corp.