In one of the biggest Chinese technology deals of 2008, Chinese Internet portal Sina.com has entered into a definitive agreement worth about USD1 billion with Focus Media Holding Limited to acquire substantially all of the assets of Focus Media’s digital out-of-home advertising networks, including LCD display network, poster frame network and in-store network.
Focus Media will retain its Internet advertising division, the movie theater advertising network portion of its commercial location network and certain traditional billboards.