Publigroupe sells City Media shares
Publigroupe sells its 12 percent stake in the Chinese advertising sales company City Media to Jining Red Bridge Technology Venture Capital and Nan'an Red Bridge Venture Capital.
City Media specializes in the sale of small advertisements for 28 newspapers and four portals. The sale is the result of Publigroupe's focus on the international media sales business in China and follows the recently announced sale of its 17 percent stake in Huashang Interactive Media. Publigroupe made the announcement in a press release on Friday.
