Chinese market regulator conditionally approves Focus Media’s acquisition of Xinchaomi Media for 5 years

TREE NEWS update: On October 10, China’s State Administration for Market Regulation announced that it has approved Focus Media Information Technology’s acquisition of shares in Chengdu Xinchaomi Media Group, while imposing 6 restrictive conditions effective for 5 years. This conditional approval marks an important step in the consolidation of China’s elevator advertising industry.