XFML Xinhua Finance Media Limited ADS (MM)

 

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE
SECURITIES EXCHANGE ACT OF 1934

Date of Report: January 2, 2009

Commission File Number: 001-33328

XINHUA FINANCE MEDIA LIMITED

(Translation of registrant’s name into English)

2201, Tower D, Central International Trade Center,
6A Jian Wai Avenue, Chaoyang District,
Beijing 100022, People’s Republic of China
(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F  þ      Form 40-F  o

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):  o

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):  o

 

 

XINHUA FINANCE MEDIA LIMITED

FORM 6-K

TABLE OF CONTENTS

		Page
Signature			3
Exhibit 99.1 — Press Release			4

SIGNATURE

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: January 2, 2009

Exhibit 99.1

[For immediate release]

XFMedia Announces Divestment to Focus on Sports and Entertainment

BEIJING, December 30, 2008 - XFMedia (NASDAQ: XFML), a leading media group in China, today announced the divestment of its Hong Kong based outdoor advertising business, Convey Advertising Company, Ltd. (“Convey”), to Pariya Holdings Limited, a company controlled by the management and original sellers of Convey, for a total purchase price of US$85 million.

Ms. Fredy Bush, XFMedia’s Chief Executive Officer commented, “We are pleased to announce this divestment, which is in line with our strategy to focus on sports and entertainment content and distribution in China as this sector continues to show strong growth opportunities. Additionally, the divestment will improve our liquidity position as we prepare the Company for future growth.” Ms. Bush continued, “Given current market conditions, we are very pleased with the terms of the deal. Looking ahead, we will continue to restructure our businesses to focus on sports and entertainment, which could give rise to material one-time non-cash charges in the fourth quarter of 2008.”

For more information:

Media Contact
Joy Tsang, +86 21 6113 5999, joy.tsang@xfmedia.cn

IR Contact
Edward Liu, +86 21 6113 5978, edward.liu@xfmedia.cn
Howard Gostfrand, American Capital Ventures, +1 305-918-7000, toll free +1 877 918 0774,
info@amcapventures.com

About XFMedia

Xinhua Finance Media (“XFMedia”; NASDAQ: XFML) is a leading media group in China with nationwide access to the upwardly mobile demographic. Through its synergistic business groups, Broadcast, Print and Advertising, XFMedia offers a total solution empowering clients at every stage of the media process and connecting them with their target audience. Its unique platform covers a wide range of media assets, including television, radio, newspaper, magazine, outdoor, online and other media assets.

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 www.xfmedia.cn .

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, 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 include, but are not limited to, risks outlined in XFMedia’s filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20. 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.

Xinhua Finance Media Limited ADS (MM) (NASDAQ:XFML)
Historical Stock Chart
From Oct 2024 to Nov 2024

Xinhua Finance Media Limited ADS (MM) (NASDAQ:XFML)
Historical Stock Chart
From Nov 2023 to Nov 2024