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China Global Media, Inc. Announces $2.5 Million Television Agreement(January 09, 2012)
CHANGSHA, CHINA -- (Marketwire) -- 01/09/12 -- China Global Media, Inc. (OTCBB: CGLO) is pleased to announce that Changsha Zhongte Trade Advertising Co., Ltd ("Zhongte"), one of CGLO's affiliated operating entities, has entered a one-year Television Advertisement Agreement with Guangzhou Aoda Biological Beauty and Health Technology Development Co., Ltd ("Aoda"). The total advertising fee that the Company will receive is approximately US $2.5 million that will be recognized in the 2012 fiscal year.
Under this Television Advertisement Agreement with Aoda ("Aoda Agreement"), Zhongte will act as Aoda's advertising agent to publish advertisements for Aoda's products on Hunan Satellite Television Channel, one of the most popular province level satellite television channels in China.
About China Global Media, Inc.
China Global Media, Inc. (OTCBB: CGLO) mainly engages in the business of advertisement and brand name development in China, especially in Hunan Province and other southern Chinese provinces. It carries out business operations through its Hong Kong subsidiary Phoenix International (China) Limited, its Chinese subsidiary Hunan Beiwei International Media Consulting Co., Ltd, and, by contractual arrangement, its three affiliated operating entities including Changsha North Latitude 30 Cultural Communications Co., Ltd., Changsha Beichen Cultural Communications Co., Ltd. and Changsha Zhongte Trade Advertising Co., Ltd. Additional information about China Global Media, Inc. can be found on the web at www.cnbwi.net.
Safe Harbor Statement
Certain of the statements made in this press release constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause China Global Media, Inc.'s actual results to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. In addition to statements that explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes," "belief," "intends," "anticipates" or "plans" to be uncertain and forward-looking. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our 8K dated July 22, 2011, and other recent filings. These filings are available at www.sec.gov. The Company does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.
Investor Relations Contact:
Chief Financial Officer, Chief Strategic Officer
25-26F Wanxiang Enterprise Building
No.70 Station North Road
Changsha, Hunan Province
China, Postal Code: 410001
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