Focus Media Announces Restructuring of In-store Advertising Unit

Focus Media Holding Limited (Nasdaq: FMCN), China’s largest digital media group, has announced restructuring of its CGEN in-store advertising network and announced the termination of its remaining wireless advertising (interactive marketing) business.

In addition, Focus Media announced it will terminate its remaining wireless advertising (interactive marketing) business due to changes in market conditions. As a result, Focus Media will incur additional one-time non-cash impairment charges of approximately $20 million in the fourth quarter of 2008, representing all of its remaining tangible and intangible assets relating to its wireless advertising business.

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