Dentsu Teams With Chinese Ad Agency
Jason Jiang, CEO of Focus Media Holding Ltd., said that the company’s cooperation with Dentsu Inc. will better display its advantages on technology, products and client resources.
Focus Media announced on Tuesday that Hua Kuang Advertising Company, its wholly-owned subsidiary, had entered an agreement with Dentsu to co-establish a new Internet advertising company in China.
The joint venture, which will be led by a board chairman Dentsu appoints, is expected to be set up at the end of March 2008 with nine million US dollars of registered capital. Dentsu will own 67 percent of the joint venture, and Hua Kuang, 33 percent.
Focus Media is optimistic about the online advertising market in China, which, as it believes, will be further boosted by the approaching Beijing Olympic Games.
Statistics from the Data Center of the China Internet (DCCI) show that the market scale of the country’s online advertising amounted to 7.68 billion yuan, and the figure is expected to hit 12. 17 billion yuan in 2008.
Dentsu, the Tokyo based advertising company, reportedly will take advantage of the widely covered client network of its partner, and reorganize its original three advertising companies in China into the joint venture, so as to raise competitive strength.
Compliments of TradingMarkets.com
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