AirMedia to partner with Guangxi Airport Group to operate media resources in four airports

Operator of out-of-home advertising platforms in China AirMedia Group Inc (NASDAQ:AMCN) on Tuesday announced that it has entered into an agreement with Asiaray Advertising Media Ltd and Guangxi Civil Aviation Development Co Ltd to form a joint venture that exclusively operates various media resources in four airports in China’s Guangxi province.

These four airports include Nanning Wuxu International Airport, Guilin Liangjiang International Airport, Liuzhou Bailian Airport and Beihai Fucheng Airport.

Under the terms of the joint venture agreement, the joint venture will have an exclusive right to develop, reform, and operate media resources in these four airports. According to the agreement, the joint venture will have exclusive operating rights for an initial term of eight years, from 1 July this year through to 30 June 2020, and this is expected to be extended for a further eight years unless there is material breach of the agreement.

Guangxi Civil Aviation Development Co Ltd is a wholly-owned subsidiary of Guangxi Airport Group, which owns and operates Nanning Wuxu International Airport, Guilin Liangjiang International Airport, Liuzhou Bailian Airport and Beihai Fucheng Airport.