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HONG KONG, Sept 28, 2011 - (ACN Newswire) - China Outdoor Media Group Limited (SEHK: 0254) ("COMG" or the "Company") announced that after gaining Taobao Tianxia as one of its substantial shareholders earlier this year, it has secured another reputable company, Shanda Capital Limited ("Shanda Capital"), a wholly-owned subsidiary of Shanghai Shanda Networking Company Limited ("Shanda Networking"), as a new strategic shareholder.
Mr. Sammy Tsui, Chief Executive Officer of COMG, said, "We are pleased that Shanda Networking has become our strategic shareholder. This not only shows the confidence of this quality investor in our business strategies and prospects, but also benefits our development through potential business cooperation in the future. Going forward, we intend to closely monitor opportunities that broaden our shareholder base and accelerate our business expansion."
As at 28 September 2011, Shanda Capital acquired 100,000,000 shares of COMG, currently holding approximately 1.28% of the issued share capital of the Company. Shanda Capital is a wholly-owned subsidiary of Shanda Networking which is one of China's leading interactive entertainment media companies offering a broad array of online entertainment content on an integrated service platform to a large and diverse user base. Shanda Networking is beneficially owned by Mr. Chen Tianqiao and Mr. Chen Danian, who are Chief Executive Officer and President and Chief Operating Officer of NASDAQ-listed Shanda Interactive Entertainment Limited.
Topic: Investment
Source: China Outdoor Media Group
Sectors: Daily Finance, Broadcast, Film & Sat
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From the Asia Corporate News Network
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