Advertiser targets rival

The owner of China’s largest network of advertising-display monitors is buying its main rival for $325 million, the Wall Street Journal reported. Focus Media Holding will pay US$94 million in cash plus $231 million in a new issue of its Nasdaq-listed stocks to buy rival "out-of-home" electronic-advertising company, Target Media Holdings. US private-equity firm Carlyle Group – Target Media’s second-biggest shareholder would become a "significant" holder in Focus Media, a Carlyle spokeswoman said.