BEIJING, March 16 /PRNewswire-Asia/ -- Legend Media (OTC Bulletin Board: LEGE) ("Legend Media" or "the Company"), a Chinese multi-media advertising company, today announced that the Company's subsidiary Beijing Yin Se Ling Dong Advertising Co., Ltd. has signed a contract with Sanya Luhuitou Tourism Area Development Co., Ltd. for its Serenity Coast Project of RMB 2,773,200 (approximately US$406,032 based on the exchange rate as of the date of this press release).
Sanya Luhuitou Tourism Area Development Co., Ltd. is a large-scale real estate developer. Their Serenity Coast Project Phase I covers an area of 70.4 hectares. After development has been completed, there will be sea-view apartments, landscape villas, an intercontinental hotel and a shopping mall. It has received many awards including the "Best Value Coastal Real Estate in China" in the 4th China Real Estate Week held in Hong Kong, one of the "Top 10 Real Estate Projects with Beijing Attention", "Most Impressive Sea-view Residence", "Best Coastal Real Estate Development Model in 20 Years", "Top 5 Famous Residence in China", and "Top Luxury House."
Mr. Ju Baochun, Chief Executive Officer and Director of Legend Media, commented, "We are extremely pleased to have entered into an airline magazine advertising contract with one of the most prestigious large-scale real estate developers in China, and the specific developer of the Serenity Coast Project. The beauty and magnitude of this project has gained the attention of China's real estate industry and the completion will be quite an accomplishment. We are glad to be able to offer our strategic advertising services to Sanya Luhuitou Tourism Area Development Co and look forward to promoting the Serenity Coast Project to our national wide readers."
About Legend Media
Legend Media, Inc. (OTCBB: LEGE), headquartered in Beijing, is a leading China advertising company focused on selling advertising that reaches affluent consumers in China through major airline magazines and radio channels in key districts of China. The Company currently owns an exclusive sales agent contract for Expression, the airline magazine for Hainan Airlines Group (HNA Group). With the execution of the policy of building Hainan into an International Tourist Island, there will be more business opportunities for the airline magazine. What's more, the airline magazine is distributed to a network of the subsidiary hotels of HNA Group, which enables the airline magazine to reach 20 million direct readers and cover 50 million to 60 million readers indirectly per year.
Aside from the main business, Legend Media owns two radio stations in Tianjin and Xi'an. The execution of the policy of developing the Ring Bohai Economic Circle brings Tianjin opportunities to further develop, enabling radio media to have great growth potential. Xi'an is an old city in China and with the development of Xi'an economy, the radio business of Xi'an will have new business opportunities.
Legend Media will continue to develop a sales network and strive to cover and eventually reach the most valuable direct advertisers in China and expand the sales business of the Company through the acquisition of new and good-quality media.
Safe Harbor Statement
This press release contains certain statements that may include 'forward-looking statements' as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes, expects, anticipate, optimistic, intend, will" or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with and available from the Securities and Exchange Commission. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
For more information, please contact: Lauren Milner American Capital Ventures Tel: +1-305-918-7000 Email: email@example.com
SOURCE Legend Media, Inc.
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