Xinhua Finance Media Announces Investment by The Yucaipa Companies
26 September 2007 - 9:22PM
PR Newswire (US)
BEIJING, Sept. 26 /Xinhua-PRNewswire/ -- Xinhua Finance Media
("XFMedia"; Nasdaq: XFML), China's leading diversified financial
and entertainment media company, today announced that The Yucaipa
Companies ("Yucaipa"), an investment firm with holdings in Asia,
Europe and the Americas, has signed an agreement to purchase a
block of existing shares from certain shareholders who have come
out of IPO lockup. David Olson, a Yucaipa partner, has agreed to
join the board of XFMedia as an independent director in connection
with the transaction. The Yucaipa Companies is a premier investment
firm that has established a record of fostering economic value
through the growth and responsible development of companies. Since
its founding in 1986, the firm has completed mergers and
acquisitions valued at more than $30 billion. As an investor,
Yucaipa works with management and contributes at the board level.
Mr. Olson will bring to XFMedia broad transaction experience in
Asia. Prior to becoming a Yucaipa partner, he was Chairman and CEO
of Donaldson, Lufkin & Jenrette's Asia Pacific region and
Credit Suisse First Boston's Chairman of Investment Banking, Asia
Pacific. Fredy Bush, CEO and Chairman of Xinhua Finance Media,
said, "The addition of David as an independent board member will
increase the strength of our corporate governance and strategic
development. We are thrilled to be forging this new relationship
with a world-class firm like Yucaipa." About Xinhua Finance Media
Limited Xinhua Finance Media ("XFMedia"; Nasdaq: XFML) is China's
leading diversified financial and entertainment media company
targeting high net worth individuals nationwide. The company
reaches its target audience via TV, radio, newspapers, magazines
and other distribution channels. Through its five synergistic
business groups, Advertising, Broadcast, Print, Production and
Research, XFMedia offers a total solution empowering clients at
every stage of the media process and keeping people connected and
entertained. Headquartered in Beijing, the company has offices and
affiliates in major cities of China including Beijing, Shanghai,
Guangzhou, Shenzhen and Hong Kong. For more information, please
visit http://www.xinhuafinancemedia.com/ . Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates," 'confident' and similar statements. Among
other things, expectations about the Chinese advertising market and
quotations from management in this announcement contain forward-
looking statements. Statements that are not historical facts,
including statements about XFMedia's beliefs and expectations, are
forward-looking statements. Forward-looking statements involve
inherent risks and uncertainties that could cause actual results to
differ materially from those contained in any forward-looking
statements. Potential risks and uncertainties are risks outlined in
XFMedia's filings with the U.S. Securities and Exchange Commission,
including its registration statement on Form F-1. All information
provided in this press release is as of the date hereof, and
XFMedia undertakes no duty to update such information, except as
required under applicable law. For more information: China Xinhua
Finance Media Joy Tsang Tel: +86-21-6113-5999 Email: DATASOURCE:
Xinhua Finance Media CONTACT: Joy Tsang of Xinhua Finance Media,
+86-21-6113-5999, or Web Site: http://www.xinhuafinancemedia.com/
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