AirMedia Group Inc. , a leading operator of out-of-home advertising platforms in China targeting mid-to-high-end consumers, today announced that it entered into a concession rights contract with JCDecaux Momentum Shanghai Airport Advertising Co., Ltd. under which AirMedia will exclusively operate digital TV screens and digital frames in Shanghai Pudong International Airport and Hongqiao International Airport from September 1, 2009 to February 15, 2012.
The contract grants AirMedia concession rights to operate digital frames at both terminals of Pudong airport and the existing terminal of Hongqiao airport starting from September 1, 2009. It also grants AirMedia concession rights to operate digital frames at Terminal 2 of Hongqiao airport which is under construction and scheduled to commence operations before the opening of the World Expo 2010 in Shanghai. With this contract, AirMedia’s digital frame network has expanded to 30 airports including all of the 15 largest airports in China.
The expiration date of AirMedia’s existing concession rights to operate digital TV screens at Terminal 1 of Pudong airport and Terminal 1 of Hongqiao airport has been extended from September 19, 2010 to February 15, 2012.
The impact of concession fees under the above concession rights contract has been included in AirMedia’s guidance of total concession fees in the third quarter and the fourth quarter of 2009.