46 million dollars grand end of the life of the Chinese friends

Hua Friends Happy Media Grand cartoon: Chen Ting June 8 23 o'clock, Shanghai Grand Interactive Entertainment Co., Ltd. officially announced that will be a 46 million-dollar price acquisition of Huayi Century (Hray) 51% shares, making a period of time before the acquisition of Hua friends to draw a full stop. Before that, the 2005 grand has been discussed with Hurray between the acquisition matters.　　By the end of December 2007, the light media had attempted to buy a shell listing by buying a Chinese friend, but 3 months later, the two sides announced that they would cancel the merger. The offer is complete attached to the terms of the deal grand this offer is about 25% higher than the closing price of the June 5 regular deal, with a total transaction value of about $46.2 million. Grand Chairman Chen Tianqiao said, believe that the royal network of user base, resources and platform will contribute to the continued implementation of China friends established strategy, it did not disclose whether there is a management adjustment plan after the acquisition.　　Hurray CEO warns Xiang Songzuo said that the current management level is unchanged. According to both parties, the completion of the offer will be dependent on the terms of the deal, i.e. Hurray has provided at least 51% of all outstanding common shares and other customary terms.　　If the shares issued by friends in China exceed 51%, the number of common shares purchased from each of the Chinese friends of the century shareholders will be reduced proportionately. Hua Friends Wireless resources for the Grand fancy according to the former Friends of the century announced the first quarter of 2009 earnings, a quarter of the total revenue of 11.76 million U.S. dollars, the year-on-year decline of 11.2%, the chain down 18.47%, and operating losses,　　The loss was 3.102 million dollars, and the losses were smaller than in the previous quarter, with revenue from wireless value-added services at $7.9 million and revenues from the music record business at $3.9 million.　　After announcing the acquisition, the company's shares rose 14.06% (0.45 U.S. dollars) to 3.65 U.S. dollars, creating a new high in the past 52 weeks, while the grand share price fell 0.62 U.S. dollars, down 1%. Although hurray in income is not satisfactory, but for "not bad money" grand, Hurray in the wireless field of resources is commendable.　　In addition, the SP made a start after the listing to the digital entertainment company, especially in the music field, involving artists brokerage, music production and wireless music distribution, and has a shareholding, holding or acquisition of 5 music companies, so that it occupies the domestic market share of the 20%-25%.　　Control grand has been to do Interactive entertainment media company's goal, in addition to wireless channels, the acquisition of friends will further strengthen the Shanda in the field of non-gaming content layout. At present, Shanda Network, including Shanda Games, Shanda online and Shanda literature three core business, in addition to gaming platform and Shanda literature, Shanda Online is designed for the culture of no logistics and virtual products to provide digital publishing platform ——— This undoubtedly highlights the future grand Business philosophy: Shanda not only means the game, will also mean for literature, music, film and television and other digital entertainment products to provide a platform, and the acquisition of Chinese friends is undoubtedly a grand integration of digital entertainment resourcesImportant step. At the same time, there are people in the industry said that Shanda's holding of friends may also mean that the grand literature, Shanda online and other non-gaming assets into the Chinese friends.　　From the current situation, this is only a few ideas, but it is certain that after the acquisition of Chinese friends, Shanda in the capital operation undoubtedly has more operation and imagination space.　　Memorabilia September 1999 China friendship Century from Nasdaq listed company U T-Kang split out to become an independent company.　　February 2005 Hurray on the Nasdaq listing, financing 70.52 million U.S. dollars, the same year, Shanda has tried to start the purchase plan for friends.　　November 2007 Hurray with the domestic largest television program production and distribution of light Media announced the merger, hoping to form a Cross-media entertainment group.　　March 2008 Hurray with light combined cancellation. Chaohui, founder and president of the April 2009 Happy Media, on behalf of the Independent Consortium B estprospect O verseas Lim ited, issued a takeover offer to the Hurray board and expressed dissatisfaction with the company's management, saying that once the takeover would replace the current management level.　　At this time, the grand and hurray of the acquisition negotiations have been launched again. Newspaper reporter Li Quanquan intern Zhang Yiqi