iMediaHouse set for launch of Focus Media TV network

Co-founder PJ Wong said the company had secured investment from a Singapore-based listed firm. "It's a personal investment from a major listed company, so I would rather not reveal the name," he said. Wong expects to take on former staff of the now-defunct AdSociety for the new operation. He said the company would initially target 'second-tier' buildings before pursuing 'top-tier' or business buildings. Advertising rates for the Singapore service have yet to be finalised; however, the rate card for Hong Kong is HK$150,000 (US$19,236) for one week's airtime. A recent ad recall survey in Hong Kong showed that respondents watched the medium 7.8 times out of every 10 times they took a lift.