Sina to Buy Focus Media
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Sina Corporation, China's leading on-line news portal, has entered a deal to buy core assets of Focus Media, China's largest digital media group. The deal, through issuance of 47 million common shares, took place after stock prices of Focus Media tumbled from over 16 US dollars per share by nearly 50% since November 10. Under the deal, Sina would acquire Focus Media's network of outdoor advertising billboards and LCD screens in hotels, offices and residential buildings.
Original article:[Chinese]