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Eastern Media Intends To Shell Back Broadcast And Television Information

2011/1/12 8:50:00 28

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Oriental Media Radio And TV Information

Suspension for more than 4 months

Broadcasting and television information

(600637.SH) finally unveiled a major event.

assets reorganization

The veil of mystery.

The company announced on the evening of 10, to implement a major asset reorganization, after the reorganization of Shanghai Oriental Media Group Co., Ltd.

SMG

Hereinafter referred to as "Oriental media" will become the largest shareholder of the company.

The reorganization scheme is mainly composed of three pactions, namely, share pfer, asset sale, cash and purchase of assets by issuing shares.

The Oriental media purchased 260 million shares of radio and television information held by instrument and Electronics Group at a price of 7.67 yuan / share, with a total paction price of 1 billion 990 million yuan. The existing assets of the broadcasting and television information (except cash) were sold to the instrument group and its related parties or the Oriental media at the valuation price of 3 billion 200 million yuan.

Radio and television information is cash 1 billion 223 million yuan and private placement to buy 100% stake in blockbuster technology, 100% equity interest in Wen Guang technology, 100% equity in radio and television production and 21.33% stake in credit and investment.

After the completion of the reorganization, the total share capital of radio and television information has changed from 710 million to 1 billion 110 million, and the Oriental media has taken up 41.6% of the shares.

The main business of the company will be changed into new media technology services and marketing.

Wan Jianjun, an analyst at Shenyin and Wanguo, said that the price of assets assessment was 4 billion 300 million, and the assessment price of the original business of broadcasting assets and radio and television information was 3 billion 200 million.

Shenyang Wanguo expects that the 2010-2012 year EPS of radio and television information after the reorganization is 0.22 yuan, 0.28 yuan and 0.35 yuan respectively, with a compound growth rate of nearly 30%, while the eastern media of the controlling shareholder of the company has reached 5 billion 600 million in 2009, with a net profit of 800 million, and the possibility of continuing to injects new media assets in the future.

The Oriental media has formed several relatively mature business segments, namely animation children, new media, TV shopping, finance and entertainment.

It includes first financial media company, Star Media Company, Shanghai TV media company and orient new entertainment company.

The BesTV is a new media audiovisual business operator and service provider of IPTV. It is jointly established by the Oriental media and Tsinghua Tongfang joint stock company.

11, the resumption of radio and television information to limit, closed at 9.22 yuan / share.