This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

CTDC Acquires Xintang Media, Partners With Xinhua News Agency To Jointly Develop Xinhua Multimedia Project

HONG KONG, April 29, 2010 (GLOBE NEWSWIRE) -- China Technology Development Group Corporation ("CTDC" or the "Company") (Nasdaq:CTDC) is pleased to announce that CTDC has entered into a Cooperation Framework Agreement (the "Agreement") with Xintang Media Technology (Beijing) Ltd. ("Xintang Media"), shareholders of Xintang Media and the related companies to acquire Xintang Media indirectly. Xintang Media is a media and advertising agency company. CTDC will jointly develop the Xinhua Multimedia Project with Xintang Media and Xinhua News Agency.

Xinhua Multimedia is an information platform with flat-panel displays to be installed in government office buildings, elementary/high schools and public areas in China, through which Xinhua News Agency disseminates news and information in various formats.

According to the Agreement, CTDC will indirectly acquire (or in other controlling ways) the equity interests in Xintang Media, which will be settled by cash, CTDC shares and warrants with advance payment of US$5 million. The payment will be used for purchasing displays and developing the advertising business.

According to the Framework Agreement signed between Xintang Media and Xinhua News Info Centre in January 2010, Xintang Media is the sole exclusive advertising agent of Xinhua Multimedia Government Broadcast Network ("Government Network") and entitled to the exclusive operation rights of other value-added businesses, as well as to the right of first refusal to make investments in other sub-projects of Xinhua Multimedia. Government Network has completed the pilot installation of flat-panel displays in Guangdong, Guizhou and Heilongjiang provinces.

In addition, Xintang Media, Xinhua News Info Centre and eight provincial branches (Guangdong, Guangxi, Shandong, Fujian, Guizhou, Anhui, Heilongjiang and Jiangxi) of Xinhua News Info Centre entered into the Exclusive Sub-agreements of Government Network ("Sub-agreement") on April 28, which further established Xintang Media's exclusive role as the advertising agent of Government Network and in operating other value-added businesses in these geographical areas. Xintang Media will continue to enter into agreements with other provincial branches of Xinhua News Info Centre.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $92.72 -0.56%
FB $119.49 1.43%
GOOG $711.12 1.38%
TSLA $214.93 1.61%
YHOO $37.23 0.79%


Chart of I:DJI
DOW 17,740.63 +79.92 0.45%
S&P 500 2,057.14 +6.51 0.32%
NASDAQ 4,736.1550 +19.0610 0.40%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs