Sohu planning merger over AirMedia
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[June 26, 2009]

Sohu planning merger over AirMedia

BEIJING, Jun 26, 2009 (Xinhua via COMTEX) -- Sohu (SOHU.NASDAQ) is in consideration of acquiring Chinese outdoor media platform provider, AirMedia Group Inc. (AMCN.NASDAQ) to brew a new growth point as competition in local online ad market intensifies, reported web media TechWeb.com.cn citing insiders late Thursday.



According to TechWeb, the source disclosed that Sohu has been seeking new profit channels in recent years as pressure from other local portals such as Sina and Tecent mounts.

Sohu's intended merger is a forced choice as its rival, Sina, announced to purchase Focus Media, a leading Chinese outdoor ads provider last year to improve ad business.



The two sides are still under negotiation over the deal, said the source while declined further details.

Statistics with AirMedia show that the ad provider's Q1 total revenue was US32.8 million dollar with net loss at US1.3 million.If AirMedia nods the deal, it will be the third Nasdaq-listed subsidiary of Sohu, following Sohu (SOHU.NASDAQ) and Changyou.com (CYOU.NASDAQ).

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