Focus Media revenue down 26%

Focus Media Holding booked a third-quarter loss as the digital media company struggled to recover from the recession and from its failure to sell its network of monitors that broadcast video ads in stores and elevators to Sina for US$1.66 billion, the Wall Street Journal reported. For the quarter ended September 30, Focus posted a loss of US$127.6 million, or almost a dollar per share.  The quarted included pretax charges of US$26 million to impair the assets that were to be sold to Sina and US$17 million to adjust for depreciation. Earnings fell US$7.9 million from US$71.4 million. The sale of Focus Media’s video ad network was effectively blocked by China’s antitrust regulators, but the company is continuing its efforts to restructure and sell off parts of its internet and billboard operations.