Xinhua Sports & Entertainment Limited to acquire China Sports Media

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ACQUISITION 
FDN Database Reference:  F231109-258
 
Acquirer:  Xinhua Sports & Entertainment Limited
ACQ Web:  http://www.xsel.com/en/
Location:  China, Beijing
Region:  Asia
Description:  Sports and entertainment media company in China,
Category:  Media
Contact:  Ms. Fredy Bush, CEO
 
Vendor:  China Sports Media
Location:  China, Beijing
Region:  Asia
Description:  China’s leading sports media rights distributor. CSM has popular domestic, Asia, and other content including the China Basketball Association (CBA), China Soccer League (CSL), AFC Champions League, Soccer’s World Cup Qualifiers, AFC Asian Cup, Mission Hills Golf World Cup, FIFA Club World Cup, FIVB Volleyball World Championships and others.
Category: Media
Contact 1:  Li Yi Dong, CEO
Contact 2:  Mr. LC Chang, a shareholder and director (will become President of XSEL, reporting to Fredy Bush, CEO)
 
Aprox. Value:  Under the terms of the transaction, CSM is valued at US$15.5 million, of which US$10.5 million will be paid in the form of approximately 5.7 million American depositary shares, (or “ADS”) valued at US$1.83 per ADS and US$5 million in cash. Management believes that CSM may generate average annual net income of US$3.3 million for the period from 2010 to 2012.
 
Details:  Xinhua Sports & Entertainment Limited (NASDAQ:XSEL; “XSEL”), a leading sports and entertainment media company in China, announced today that it has entered into an agreement to acquire China Sports Media (“CSM”), China’s leading sports media rights distributor.
 
Link: Press Release

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