A Walt Disney-led consortium that also includes Google is in talks to buy a stake in Bus Online, China’s largest in-bus digital media and advertising company, Reuters reported, citing three sources familiar with the situation. The consortium wants to take a 30-40% stake in Bus Online for more than US$100 million through the purchase of old and new shares to be issued by the Chinese firm in private placements. Disney, which has agreed to build a theme park in Shanghai, sees the investment as a means of building its brand in China, according to one source. Bus Online had revenues of US$46.07 million in 2009. It has received US$80 million in venture capital funding from the likes of IDG, Yangtze Fund, China Renaissance Capital Investment and CCB International since 2004. The company is the exclusive partner of CCTV and Xinhua News Agency for in-bus media content and advertising.
Categories