WEB BRIEFINGS: Tom.com to acquire China outdoor ad agency

<p>Tom.com is to acquire more than 49 per cent of Kunming Fench Star </p><p>Information Industry, a China-based outdoor media and advertising </p><p>company. </p><p><BR><BR> </p><p>The Fench Star acquisition is the latest in a string of recent </p><p>investments by Tom.com, which include 163.net, YC Press and </p><p>shawei.com. </p><p><BR><BR> </p><p>"The investment by Tom brings about diverse media cross selling </p><p>opportunities, which we believe sets a precedent in the China </p><p>advertising market. With Tom's network of companies and our established </p><p>outdoor media network, we will be able to take advantage of the large </p><p>advertising market potential," said Li Jian, CEO of Kunming Fench Star </p><p>Information Industry. </p><p><BR><BR> </p><p>According to the company, China's advertising market is estimated to top </p><p>US$6 billion in 2002. Outdoor advertising, representing an </p><p>estimated 10 per cent of the total market value, recorded a compound </p><p>annual growth rate of 21 per cent over the past five years. </p><p><BR><BR> </p>

by | 10/27/2000