China’s Market Regulator Conditionally Approves Focus Media’s Acquisition of Xinchao Media for 5 Years

TREE NEWS update: China’s State Administration for Market Regulation announced on October 10 that it has approved Focus Media Information Technology’s acquisition of shares in Chengdu-based Xinchao Media Group, while imposing six restrictive conditions effective for 5 years. This conditional approval marks an important step in the consolidation of China’s elevator advertising industry.