Phoenix New Media Grants Loans to Particle

Phoenix New Media Limited (NYSE: FENG) today announced that its board of directors has authorized the Company to grant unsecured term loans (the "Loans") to Particle Inc. ("Particle") on or before May 31, 2016 in an aggregate principal amount of up to US$20 million at an interest rate of 4.35% per annum and with a term of twelve (12) months. Pursuant to the board approval, the Company granted an initial US$10 million loan to Particle on January 28, 2016 and expects to grant additional Loans to Particle subject to the limit set by the board.Particle owns Yidian Zixun ("Yidian"), a rapidly-growing personalized news and life-style information application in China, which allows users to efficiently define and explore individualized content over mobile devices. The Company currently owns approximately 49.02% of the total outstanding shares of Particle (or 46.9% on a fully diluted basis assuming issuance of all shares reserved under Particle's employee share option plan) and has the option to consolidate Particle's financial statements into the Company once Yidian's user base reaches a certain level. Particle is required to use the See full press release