SOURCE: China Global Media, Inc.

February 09, 2012 07:00 ET

China Global Media, Inc.'s Automobile Advertisement Sector Has Entered a Total of US $4.9 Million in Contracts in the Start of Year 2012

CHANGSHA, CHINA--(Marketwire - Feb 9, 2012) - China Global Media, Inc. (OTCBB: CGLO)'s affiliated operating company Changsha North Latitude 30 Cultural Communications Co., Ltd. ("North Latitude") has entered a one-year advertisement agreement with FAW-Volkswagen Sales Company Ltd ("FAW-VW") to place advertisements for FAW-VW on Golden Eagle 955 Radio Station and Hunan Radio Television Station Satellite Channel. The total advertisement fee that Company expects to receive in fiscal year 2012 under this agreement is approximately US $2.6 Million.

In the start of Year 2012, North Latitude has entered advertisement agreements with three major automobile companies in Hunan market, including FAW-VW, Hunan Shenxiang Automobile Tiancheng Sales and Services Co., Ltd, and Hunan Yongtong Automobile Group. These three agreements will bring approximately US $4.9 Million advertisement fees. Since automobile advertisement is one of the most important sections of CGLO's business, the entry of these three agreements clearly shows that Year 2012 will be a year of high growth for CGLO.

About China Global Media, Inc.

China Global Media, Inc. (OTCBB: CGLO) mainly engages in the business of advertisement and brand name development in China, especially in Hunan Province and other southern Chinese provinces. It carries out business operations through its Hong Kong subsidiary Phoenix International (China) Limited, its Chinese subsidiary Hunan Beiwei International Media Consulting Co., Ltd, and, by contractual arrangement, its three affiliated operating entities including Changsha North Latitude 30 Cultural Communications Co., Ltd., Changsha Beichen Cultural Communications Co., Ltd. and Changsha Zhongte Trade Advertising Co., Ltd. Additional information about China Global Media, Inc. can be found on the web at www.cnbwi.net

Safe Harbor Statement

Certain of the statements made in this press release constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause China Global Media, Inc.'s actual results to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. In addition to statements that explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes," "belief," "intends," "anticipates" or "plans" to be uncertain and forward-looking. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our 8K dated July 22, 2011, and other recent filings. These filings are available at www.sec.gov. The Company does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.

Contact Information

  • Investor Relations Contact:

    Jun Liang

    Chief Financial Officer, Chief Strategic Officer

    25-26F Wanxiang Enterprise Building,
    No.70 Station North Road,
    Changsha, Hunan Province,
    China, Postal Code: 410001
    Phone: +86-731-89970899
    Email: Email Contact

    www.cnbwi.net