To focus on the development of the main business after the "weaning" of electric media

Securities Times reporter Chen Yu Wen Guang Media (000917) announced today that the company and Hunan Radio and television consultation, since January 1, 2011, the company will no longer be the exclusive agent of Hunan Radio and television media advertising business.　　"Weaning", the company will be more focused on its own main industry cable network and Venture investment business development. Last February, the board of Directors of the power media and the media of Hunan Radio and television signed the cooperation Agreement on advertising operation. By the radio and Television Group under the media (including Hunan TV satellite channel, via video channel, Metropolitan Channel, Golden Eagle documentary channel, entertainment channel, film Channel, Golden Eagle cartoon channel, radio and television newspaper) advertising management , the Agency for the period from January 1, 2010 to December 31, 2010, due to the two sides in consultation can be renewed.　　During the agency, the advertising operating income by the Electric Media Advertising branch uniform collection, the media advertising operating revenue according to radio and television group 85%, the distribution of 15% of the media. In the past few years, the agent of Hunan Radio and television advertising business has been the main source of income of the media. 2008, The main business income of the broad media is 3.351 billion yuan, while the same time the power of the media agency Hunan Radio and television advertising business income of 2.039 billion yuan; 2009 1-September, the main business income of the broad media is 3.015 billion yuan, and the electricity media agent Hunan radio and television advertising business income of 2.035 billion yuan.　　At the time of the renewal of cooperation between the two sides last year, the mass media expected that the business would not exceed $3.5 billion in 2010 years. According to the electric media today, since January 1, 2011, the company no longer exclusive agent of Hunan Radio and television media of the advertising business.　　Electric media said that the issue of the company's financial data has yet to be verified, the specific data will be timely and detailed disclosure, please pay attention to the risk of the broad masses of investors. For this "weaning", insiders believe that, although the provincial media advertising production agency business in the company's main business income accounted for a larger, but according to the company and Hunan Radio and television, "advertising business Cooperation Agreement", the media can only receive 15% of the income as a commission fee, and after deducting business tax and operating costs, The profit contribution to the company is very limited. In the long run, the choice at this time "weaning", more conducive to the long-term development of the company. Citic Securities researcher Pi Sun that the suspension of the agreement, although the company's main business income data will have an impact, but will be more conducive to the long-term development of the company: first of all, will directly reduce the company and the actual control of the related transactions between the company, conducive to the independent operation of companies; second,　　The company's future work will focus more on the development of cable network and venture capital business, as a capital-intensive business sector, but also more likely to play the role of the capital platform of listed companies; third, the company's financial statements will be more truly reflect the company's actual operating conditions. Long, chairman of the company, said in an interview with reporters that the company's wired network and venture investment two major business has achieved rapid development, has become the companyCore competitiveness. So far, the electric media has integrated 96 counties in Hunan Province, the county wire network, a deeper integration is now under way; Hunan's digital TV transfer business is also very smooth, Changsha-Zhuzhou-Xiangtan area has become the first batch of "triple network integration" Pilot City group; the company will fully tap the value of Hunan wired network resources on the basis of , and steadily promote cross-regional development. The company's venture investment business has been fruitful, has 17 successful IPO projects or will, the subsidiary of Shenzhen Fortune Venture has become a leader in the field of venture investment. The exclusive agency business suspension, is to adapt to the needs of Hunan Radio and television restructuring, but also the company to do strong cable network and venture investment two main industries, to enhance the company's competitiveness.