Man, these Chinese networks have been going gangbusters lately. Forget about Focus Media's unbelievable IPO or AirMedia's recent stratospheric valuation. Today we get news of Network CN, who have just raised $50 million from Och-Ziff Capital Management Group (and there's another $100 million waiting in the wings in the form of exercisable warrants), according to CNN Money.
The company has remained relatively noncommittal about what they'll be doing with the money, only noting that it will go partly towards accelerating their work in Beijing International Airport's Terminal 3. The company hopes to become the "market leader of outdoor digital media" in China, which is going to be pretty tough given the number of large, aggressive networks operating over there today.
Tags: digital signage, out-of-home advertising, OOH advertising
The company has remained relatively noncommittal about what they'll be doing with the money, only noting that it will go partly towards accelerating their work in Beijing International Airport's Terminal 3. The company hopes to become the "market leader of outdoor digital media" in China, which is going to be pretty tough given the number of large, aggressive networks operating over there today.
Tags: digital signage, out-of-home advertising, OOH advertising
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