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Airmedia Group Inc (AMCN.O)

AMCN.O on Nasdaq

2.84USD
22 Jul 2016
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Latest Key Developments (Source: Significant Developments)

Airmedia enters into amendment to merger agreement for going private transaction
Monday, 27 Jun 2016 05:00am EDT 

Airmedia Group Inc : Airmedia enters into amendment to merger agreement for going private transaction . Under terms of agreement, either co or parent could terminate merger agreement if merger is not completed by June 28, 2016 .Airmedia enters into amendment to merger agreement for going private transaction.  Full Article

AirMedia Group Inc enters into definitive merger agreement for going private transaction
Wednesday, 30 Sep 2015 07:00am EDT 

AirMedia Group Inc:Enters into definitive merger agreement for going private transaction.Entered into a definitive agreement and plan of merger with Airmedia Holdings Ltd and Airmedia merger company limited.Says buyer group intends to fund transaction from proceeds of loan to be provided by China merchants bank co.Says board approved the merger agreement.Airmedia Holdings to buy Airmedia for US$3.00 per ordinary share or US$6.00 per American depositary share, each representing two shares.Says shareholder approval is not required and the company will proceed to the closing of such transaction.  Full Article

AirMedia Group Inc receives preliminary non-binding going private proposal
Friday, 19 Jun 2015 07:11am EDT 

AirMedia Group Inc:Announces receipt of preliminary non-binding going private proposal.Buyer group beneficially owns an aggregate of about 38 pct of all of the company's issued and outstanding ordinary shares.Formed special committee comprised of three independent directors, Conor Chia-hung Yang, Shichong Shan And Songzuo Xiang.Got proposal to acquire Airmedia shares not already owned by buyer group for $6.00 in cash per American depositary share.Says special committee plans to retain legal and financial advisors to assist it in evaluating the transaction.Buyer group intends to fund the consideration payable in the transaction with a combination of debt and/or equity capital.Received non-binding proposal letter from chairman, CEO, on behalf of himself and management proposing a going-private transaction.  Full Article

AirMedia Group Inc to sell 75 pct equity interest of its advertising business for 2.1 bln Yuan
Monday, 15 Jun 2015 06:00am EDT 

AirMedia Group Inc:Reaches definitive agreement to sell 75% equity interest of its advertising business for 2.1 bln Yuan.Says deal valued at 2.1 bln Yuan.Consideration payment will be made in 2 installments; first installment of 800 mln Yuan.Says Airmedia agrees to restructure am advertising for the transaction.Says to complete the transaction, the company needs to remove the vie structure of am advertising.Airmedia will hold an extraordinary general meeting to approve transaction and removal of vie structure of am advertising.After removal of vie structure of am advertising, a unit of co in China, will buy remaining 25% equity interest of am advertising.Says agreement contains an earnout structure.Says after removal of vie structure, Shenzhen Airmedia information a wholly owned unit in China, will buy 25% stake of am advertising.After execution of agreement, neither party shall arbitrarily terminate deal, or else to pay damages of RMB400 million to counterparty.First installment of 800 mln Yuan to be received within 15 working days after the executions of the agreement and the fulfillment.  Full Article

AirMedia Group Inc gives Q2 2015 revenue guidance
Monday, 18 May 2015 05:00pm EDT 

AirMedia Group Inc:Expects net revenues for Q2 2015 to range from $57.0 million to $61.0 million.  Full Article

AirMedia Group Inc sells 5pct equity interest of advertising business for 150 million yuan
Tuesday, 7 Apr 2015 05:00pm EDT 

AirMedia Group Inc:Announced that Beijing Shengshi Lianhe Advertising Co., Ltd., a variable interest entity in China, which it currently controls through contractual arrangements (VIE structure).Entered into a share transfer agreement to sell 5pct equity interest of AirMedia Group Co., Ltd. to Shenzhen Liantronics Co., Ltd, for a consideration of 150 million yuan in cash.Says payment of the transaction is expected to be completed within 10 working days of the completion of the share transfer.  Full Article

AirMedia Group Inc gives Q1 2015 revenue guidance - Conference call
Monday, 9 Mar 2015 08:00pm EDT 

AirMedia Group Inc:Expects net revenue for Q1 2015 to range from $53 million to $56 million.  Full Article

AirMedia Group Inc announces divestiture of two unprofitable product lines
Tuesday, 13 Jan 2015 07:00am EST 

AirMedia Group Inc:It had reached agreements with two media companies.To divest its TV-attached digital frames and airport digital TV screens business, two unprofitable product lines, to enhance its profitability.TV-attached digital frames and airport digital TV screens had been negatively contributing to the Company's overall results for years.Divestiture is expected to have an immediately positive effect on the Company's results of operation.  Full Article

AirMedia Group Inc gives Q4 2014 revenue guidance
Monday, 17 Nov 2014 04:10pm EST 

AirMedia Group Inc:Expects its net revenues for Q4 2014 to range from $66.0 million to $68.0 million.  Full Article

AirMedia Group Inc gives Q3 2014 revenue guidance
Monday, 18 Aug 2014 04:30pm EDT 

AirMedia Group Inc:Expects net revenues for Q3 2014 to range from $65.0 million to $67.0 million.  Full Article

BRIEF-Airmedia enters into amendment to merger agreement for going private transaction

* Airmedia enters into amendment to merger agreement for going private transaction