China Digital Media Readings for November 22nd
- Posted by bbishop
- on November 22nd, 2011
- 2009—Sina, Focus Media drop merger plan | Reuters- two years ago//SHANGHAI, Sept 28 2009 (Reuters) – Sina Corp (SINA.O) and Focus Media Holding Ltd (FMCN.O) said on Monday they would effectively scrap their $1.4 billion merger after months of government stonewalling over a deal that would have created China’s biggest private sector media company.
At the same time, Sina, China’s biggest Web portal, announced that a group led by its management team would buy about 10 percent of the company for $180 million, which could be used for future acquisitions and corporate purposes.
- 发改委否认宽带垄断案和解：仍在调查取证-搜狐IT – NDRC denies a settlement in the china unicom/telecom broadband monopoly investigation
- Bloomberg’s Plan for World Domination – The Daily Beast – With an army of reporters and wonky information services, the media company is expanding from Wall Street to Washington, Where it hopes to control—even more.
- Xunlei, despite canceling IPO, is still raising U.S. copyright concerns | VentureBeat- U.S. Representative Scott Garrett, who oversees the Congressional Finance Committee, then wrote a letter to SEC chairman Mary Schapiro on November 10 pointing out, among other things, the U.S. copyrights that Xunlei is likely violating. Garrett’s letter cites Pilarowski’s column in the Times.Garrett asks several pointed questions, the crux of which is this one: “Does the Commission have a standing policy regarding the approval of foreign companies to be listed on U.S. exchanges where there is evidence that a company’s business model is likely to be in violation of U.S. law?”
- Sen. Schumer Urges Audit Watchdog to Act on China – WSJ.com- Audit War coming? US-listed china firms at risk $china//A prominent senator is expected to urge the U.S. auditing-oversight agency to refuse to allow Chinese accounting firms to audit U.S.-traded companies until American inspectors are allowed to evaluate the firms’ work.
Inspectors at the Public Company Accounting Oversight Board conduct regular reviews of audit firms with U.S.-traded clients, even if the auditors and their clients are based overseas, to assess their performance and make sure they are complying with auditing standards. But the Chinese government, citing sovereignty concerns, hasn’t allowed the U.S. inspectors into China to review the work of Chinese audit firms.
- Letao CEO: I’m Cutting 80% of Ad Expenditure – Let’s Stop the E-Commerce Price Wars | Tech in Asia – Speaking very frankly to Sina Tech news – indeed, much more candidly that most CEOs ever do – Bi Sheng said he often feels that the entire e-commerce sector in China is not sustainable as it stands at the moment. He added, “This July I felt that the entire market is not right,” and that gut reaction prompted him to slash 80 percent of Letao’s expenditure on advertising in a bid to reduce wastage. He revealed that his site was spending 350,000 RMB ($55,000) per month last year on Baidu’s ad platform, and that had doubled to 700k earlier this year. So, presumably after these cost-savings, Letao will spend just 140,000 RMB per month on those online ads. It’s not clear how much it is spending on other forms of critical advertising in this sector, such as outdoor ads in major cities.
- 江南春的微博 新浪微博-随时随地分享身边的新鲜事儿 – focus ceo jason jiang sina weibo acount discussion of muddy water charges and comments
- Issue 545 21-11-2011 – Economic Observer News- China business, politics, law, and social issues – When one vendor wants to offer a group deal, they will now get applications from ten group buying sites that are willing to partner up.
~ The vendors can demand almost anything from the partners – exclusive sales, free advertisements etc. – and this has weighed heavily on the profitability of these sites.
~ For example, group buying websites will offer discounted movie tickets at nine yuan, all of which they will pass on to the cinema. That leaves nothing to pay for advertising, which in the case of bigger players like Lashou.com (拉手网), is estimated at around 30 million yuan a month.
~ There are now so many disreputable group purchase companies in operation that consumers and companies have little trust in them.
- Expedia, Inc. Acquires Stake in eLong, Inc. from Renren Inc. – MarketWatch -
- 宽带反垄断案现转机 _政经频道_财新网 – 中国电信和中国联通公司已经与国家发改委进行了充分沟通，或有可能达成和解协议，两家公司认错并承诺整改，国家发改委将中止调查。
- Buying Focus Media on Advice of Goldman Sachs Lost Owners 66% – Businessweek – Catherine Leung, Goldman Sachs’s Hong Kong-based analyst on the stock, raised her price estimate to $45 from $42 on Nov. 18, a day after Focus Media reported profit that beat analysts’ predictions by 12 percent, according to data compiled by Bloomberg. Bank of America’s Eddie Leung boosted his price forecast to $41 from $39, saying “execution remains solid,” according to a Nov. 18 note from the Hong Kong-based analyst.
- Focus Media Plunges After Muddy Waters Issues ‘Strong Sell’ Recommendation – Bloomberg -
- Muddy Waters Initiating Coverage on FMCN – Strong Sell | Muddy Waters Research – devastating. Shanghai TMT and Investing crowd will not be pleased at this report or its possible implications
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.blog comments powered by Disqus
Bill Bishop is an American living in Beijing. He is bilingual and has experience working in both US and China. In 1997 he co-founded CBS MarketWatch and stayed until the sale in 2004 to Dow Jones. He was never a journalist, and instead worked in several business roles over the years, the last as head of the MarketWatch consumer Internet business. More »
- Sinocism China Newsletter For 08.30.12
- The Sinocism China Newsletter
- Today’s China Readings July 18, 2012
- Sina Sell-Side Still Searching For Muppets
- China Daily Readings
- Sina Admits It Has Not Complied With Weibo Real Name Registration Rules
- Groupon’s China Firesale
- Apologies For The Hiatus
- Tweeting The Sina Q4 2011 Earnings Call
- Quick Thoughts Ahead Of Sina Earnings
- August 2012
- July 2012
- May 2012
- April 2012
- February 2012
- January 2012
- December 2011
- November 2011
- October 2011
- September 2011
- August 2011
- July 2011
- June 2011
- May 2011
- April 2011
- March 2011
- February 2011
- January 2011
- December 2010
- November 2010
- October 2010
- September 2010
- August 2010
- July 2010
- June 2010
- May 2010
- April 2010
- March 2010
- February 2010
- January 2010
- Inside Sina Weibo
- Authorities Removing Apple iPads From Chinese Store Shelves? (Updated)
- Reuters: China VIE Company Structure Under Threat
- If Sina Is Cooking Its Books I'll Eat This Blog
- China's Internet: The Invisible Birdcage
- Is Tencent The Wrong Partner For Groupon In China?
- New Report On China's Online Game Industry-$3.6B in 2009 Revenue, $9.2B By 2014
- Do You Know Where Your China Stock CFO Lives?
- CCTV Attacks Baidu, Again
- China's MIIT Declares Most VoIP Services, Including Skype, Illegal
TagsAdvertising Alibaba Apple Baidu Beijing cctv Censorship china China Mobile Corruption Cyberwar DangDang eCommerce Facebook Fraud Gaming GFW Google Group Buying groupon Internet Investing IPO Media Mobile Music Netease PerfectWorld Piracy Policy Readings Regulations Search Shanda Sina SNS Social Games Tencent Twitter US-China Virtual Items Web Video Weibo WoW WVAS
- Group Buying
- Internet Security
- Listed Firms
- Online Games
- Online Memes
- Online Payments
- Online Trends
- Perfect World
- Public Relations
- Renewable Energy
- Social Gaming
- Traditional Chinese Medicine TCM
- Web Advertising
- Web Video
- World of Warcraft
StockTwits - All Updates