Legend Media Inc. (LEGE.OB), through its wholly-owned subsidiary Well Chance Investments Limited, intends to build a leading consumer advertising network in China, reaching consumers through multiple advertising mediums. Legend Media has put the company’s near-term focus on reaching consumers through the Chinese radio market.
On September 11th, 2008 Legend Media announced entrance into a contract to acquire the rights to radio advertising in Shenzhen, China. Shenzhen is one of the jewels in China, a city of 12 million people located just north of Hong Kong. This area is one of the fastest-growing areas in China, economically speaking.
The contract grants the company exclusive rights to 45,990 minutes of radio advertising inventory at an average cost of less than $15 per minute. The newly-acquired rights bring Legend Media one step closer to reaching its goal of adding six channels to its rapidly expanding inventory by year-end. The company has also recently closed other acquisitions in Beijing and Tianjin.
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