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

TREE NEWS update: On October 10, China’s State Administration for Market Regulation announced that it had approved Focus Media Information Technology’s acquisition of a stake in Chengdu New Chao Media Group, while imposing six restrictive conditions valid for five years. This conditional approval marks a significant step forward in the consolidation of China’s elevator advertising industry.