AirMedia Special Committee Appoints Advisors

AirMedia Group Inc. ("AirMedia" or the "Company")

, a leading operator of out-of-home advertising platforms in China targeting mid-to-high-end consumers, as well as a first-mover in the in-flight and on-train Wi-Fi market, today announced that a special committee of independent directors of the Company's board of directors (the "Special Committee") has retained Duff & Phelps, LLC and Duff & Phelps Securities, LLC (collectively referred to as "Duff & Phelps") as its financial advisor and Kirkland & Ellis ("Kirkland & Ellis") as its international legal counsel. As previously announced, the Company's board of directors formed the Special Committee to consider a "going-private" transaction (the "Transaction") for $3.00 in cash per ordinary share or $6.00 in cash per American depositary share (each representing two ordinary shares), proposed by Mr. Herman Man Guo, Chairman of the Board and Chief Executive Officer of the Company, on behalf of himself and management of the Company, in a preliminary non-binding proposal letter, dated June 19, 2015. Duff & Phelps and Kirkland & Ellis will assist the Special Committee in its work in connection with the Transaction and any potential alternatives. No decisions have been made by the Special Committee with respect to the Company's response to the Transaction. There can be no assurance that any definitive offer will be made, that any agreement will be executed or that this or any other transaction will be approved or consummated. The Company does not undertake any obligation to provide any updates with respect to this or any other transaction, except as required under applicable law.