AirMedia Group Inc was incorporated in the Cayman Islands on April 12, 2007. The Company is an operator of out-of-home advertising platforms in China targeting mid-to-high-end consumers. It operates digital frames and digital TV screens in 31 airports in China, including the six largest airports in China; Beijing Capital International Airport, Guangzhou Baiyun International Airport, Shanghai Pudong International Airport, Shanghai Hongqiao International Airport, Shenzhen Baoan International Airport and Chengdu Shuangliu International Airport. It started operating advertising media platforms at gas stations owned by Sinopec in 2009. The Company also holds concession rights to operates various traditional advertising media including billboards, light boxes and other media platforms outside the air travel sector, such as unipole signs and other outdoor media. It also provides in-flight advertising and non-advertising contents. It combines advertising content with non-advertising content, such as weather, sports and comedy clips, in its digital TV screen programs. The Company has contracts with many Chinese TV stations such as Dragon TV, the Travel Channel and CCTV-5, to show video clips of their programs in airports and on airplanes. It operates a network of digital frames, strategically placed in areas of airports such as departure halls, terminals and arrival halls, where many of the air travelers congregate and spend significant amounts of time waiting. Its digital frames are high-definition liquid crystal display, or LCD, screens that typically change digital picture displays approximately every six or twelve seconds, with certain exceptions of five to ten seconds in certain large airports. Its digital frames include standalone digital frames, TV-attached digital frames and mega-size LEDs. The Company strategically placed its digital TV screens in high-traffic areas of airports such as departure halls, security check areas, boarding gates, baggage claim areas and arrival halls, where there tend to be significant waiting time. The Company operates approximately 2,343 digital TV screens in 30 airports in China under various concession rights contracts. Its traditional media in airports currently includes light boxes and billboards in airports. It has logos for various displays equipment in airports prominently displayed on this equipment, for which logos it charge advertising fees. It currently operates approximately 23 unipole signs and other outdoor media in locations throughout Beijing and 5,500 tablets on high-speed trains in China. Its advertisers purchase advertising time slots and locations on its advertising network either directly from the Company or through advertising agencies. It provides a number of services in connection with each advertiser's advertising campaign. The Company markets its advertising services by displaying its name and logo on all of its digital frames, digital TV screens, light boxes and billboards in airports and gas stations and by placing advertisements on third-party media from time to time, including China Central Television. The Company competes with Internet, street facility displays, billboard and public transport advertising companies, and with traditional advertising media, such as newspapers, television, magazines and radio. As an air travel advertising service provider, the Company is obligated under PRC laws and regulations to monitor the advertising content shown on its network for compliance with applicable law.
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