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AirMedia Inks Shanghai Airport Contracts Thru 2012
Beijing-based out-of-home advertising network operator AirMedia Group (Nasdaq:AMCN) has gained concession rights to exclusively operate digital TV screens and digital frames in Shanghai's Pudong International Airport and Hongqiao International Airport between September 1, 2009 and February 15, 2012, AirMedia announced August 27.
The contract, recently signed with JCDecaux Momentum Shanghai Airport Advertising, grants AirMedia rights to operate frames in both terminals of the Pudong airport, the existing Hongqiao airport terminal, and Hongqiao's Terminal 2, currently under construction and scheduled to open before Shanghai's 2010 World Expo. The expiration date of AirMedia's contract to operate digital TV screens in the first terminals of the Pudong and Hongqiao airports has been pushed back from September 19, 2010 to February 15, 2012, the announcement said.
The contract expands AirMedia's digital frame network to 30 airports, including China's 15 largest, and has already been included in AirMedia's guidance for third and fourth quarter concession fees.
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