Publigroupe expands its presence in China
Publigroupe is establishing two joint ventures with the Chinese advertising agency City Media to sell classified ads in daily newspapers in Shanghai and Beijing. As part of this partnership, the marketing group is acquiring a 10 percent stake in City Media.
Publigroupe wants to strengthen its market presence in emerging China: it is setting up two joint ventures with the Chinese advertising management group City Media for the sale of classified ads in daily newspapers in Shanghai and Beijing. As part of this cooperation, the marketing group is acquiring a 10 percent stake in City Media. With this agreement, Publigroupe aims to significantly strengthen its presence in China and lay the foundations to benefit from the rapidly growing Chinese newspaper market, as it announced on Thursday. The company has been represented on the Chinese mainland since 1998 with sales offices in Beijing and Shanghai, where it employs around 70 people.
Publigroupe will hold 51% and City Media 49% of the joint venture in Shanghai. In Beijing, the ownership structure is reversed: PubliGroupe holds 49 percent and City Media 51 percent. The agreement also includes the marketing of classified ads for the English-language newspaper Shanghai Daily and for the new free newspapers distributed in the Shanghai and Beijing subways.
Publigroupe will hold 51% and City Media 49% of the joint venture in Shanghai. In Beijing, the ownership structure is reversed: PubliGroupe holds 49 percent and City Media 51 percent. The agreement also includes the marketing of classified ads for the English-language newspaper Shanghai Daily and for the new free newspapers distributed in the Shanghai and Beijing subways.
