AirMedia pursues legal action aiming to resolve disputes with China Railway Century Media Advertising Co., Ltd. and China Railway Beijing Group Co.,Ltd.
AirMedia pursues legal action aiming to resolve disputes with China Railway Century Media Advertising Co., Ltd. and China Railway Beijing Group Co.,Ltd.
View original content:BEIJING, Feb. 19, 2019 /PRNewswire/ -- AirMedia Group Inc. ("AirMedia" or the "Company") (Nasdaq: AMCN), an operator of out-of-home advertising platforms in China targeting mid-to-high-end consumers as well as a first-mover in the travel Wi-Fi market, today announced that its subsidiary Guangzhou Meizheng Online Network Technology Co., Ltd. (the "Subsidiary") has filed a lawsuit aiming to resolve disputes arising out of the non-performance of the Franchising Operation Agreement of Wi-Fi Wireless Network on High-speed trains Administered under Beijing Railway Administration (the "Agreement") signed on August 29, 2014 with China Railway Century Media Advertising Co., Ltd. and China Railway Beijing Group Co., Ltd. The lawsuit was filed with the Beijing High People's Court (the "Court") and the first court appearance is set for March 14, 2019.
北京，2019 年 2 月 19 日 /PRNewswire/ — AirMedia Group Inc.（“AirMedia” 或 “公司”）（纳斯达克股票代码：AMCN），一家在美国的户外广告平台运营商 中国 针对中高端消费者以及旅游Wi-Fi市场的先行者，今天宣布，其子公司广州美正在线网络技术有限公司（“子公司”）已提起诉讼，旨在解决因不履行北京铁路局管理的高速列车Wi-Fi无线网络特许经营协议（“协议”）而产生的争议 2014年8月29日 该诉讼是向北京高级人民法院（“法院”）提起的，首次出庭的是中铁世纪传媒广告有限公司和中国中铁北京集团有限公司设置为 2019年3月14日。
According to the Agreement, China Railway Century Media Advertising Co., Ltd. authorized the Subsidiary exclusive on-train concession rights to provide digital advertising media for high-speed trains for 6 years. The Agreement was subjected to an automatic renewal should there be no significant breach of the Agreement from either party. In the duration of the Agreement, the Subsidiary would be exclusively entitled to, among other rights, install and operate Wi-Fi systems on the high-speed trains operated by Beijing Railway Bureau. According to the lawsuit, since the consummation of the Agreement, China Railway Century Media Advertising Co., Ltd. delayed and eventually refused to perform the obligations under the Agreement. The Subsidiary is applying to the Court to terminate the Agreement and release the Subsidiary's obligations. The Subsidiary will also be seeking approximately RMB829 million as liquidated damages. As the trial has not started yet, it is not possible at this stage to determine the impact of this lawsuit on the company's profits in the current period or afterwards.
根据协议，中铁世纪传媒广告有限公司授权子公司在列车上独家特许经营权，为高速列车提供数字广告媒体，为期6年。如果任何一方都没有严重违反《协议》，则该协议将自动延长。在协议有效期内，除其他权利外，子公司将独家有权在北京铁路局运营的高速列车上安装和运营Wi-Fi系统。 根据诉讼，由于 协议的完成，中铁世纪传媒广告有限公司， 有限公司. 延迟了 并最终拒绝履行协议规定的义务.子公司 正在申请 向法院提出终止协议并解除子公司的义务。这个 子公司 将 也是 大约在寻找 RMB829 百万 作为违约赔偿金。由于审判尚未开始，现阶段无法确定该诉讼对公司当期或之后的利润的影响。
About AirMedia Group Inc.
关于 AirMedia Group Inc
Incorporated in 2007 and headquartered in Beijing, China, AirMedia Group Inc. AMCN is an operator of out-of-home advertising platforms in China targeting mid-to-high-end consumers as well as a first-mover in the travel Wi-Fi market. AirMedia sells advertisements on the routes operated by several Chinese airlines and also has concession rights to operate the Wi-Fi systems on trains administered by several railway administrative bureaus in China. For more information, please visit .
成立于 2007 年，总部位于 中国北京，AirMedia Group Inc. AMCN 是一家户外广告平台的运营商 中国 面向中高端消费者以及旅游 Wi-Fi 市场的先行者。AirMedia在多家中国航空公司运营的路线上销售广告，并且还拥有在多个铁路管理局管理的列车上运营Wi-Fi系统的特许权 中国。欲了解更多信息，请访问。
Forward-Looking Statements
前瞻性陈述
This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, the Company's business strategies and initiatives as well as the Company's business plans; the Company's future business development, results of operations and financial condition; expected changes in the Company's revenue and certain cost or expense items; trends and competition in China; general economic and business conditions in China; and other risks detailed in the Company's filings with the Securities and Exchange Commission. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results.
本公告包含1995年《私人证券诉讼改革法》安全港条款所指的前瞻性陈述。本公告中除历史事实陈述以外的所有陈述均为前瞻性陈述，包括但不限于公司的业务战略和举措以及公司的业务计划；公司的未来业务发展、经营业绩和财务状况；公司收入和某些成本或支出项目的预期变化；趋势和竞争 中国; 的总体经济和商业状况 中国；以及公司向美国证券交易委员会提交的文件中详述的其他风险。这些前瞻性陈述涉及已知和未知的风险和不确定性，基于当前对未来事件和财务趋势的预期和预测，公司认为这些事件和财务趋势可能会影响其财务状况、经营业绩、业务战略和财务需求。投资者可以通过单词或短语来识别这些前瞻性陈述，例如 “可能”、“将”、“期望”、“预期”、“目标”、“估计”、“打算”、“计划”、“相信”、“潜力”、“继续”、“是/很可能” 或其他类似的表达方式。除非法律要求，否则公司没有义务更新前瞻性陈述以反映随后发生的事件或情况或其预期的变化。尽管公司认为这些前瞻性陈述中表达的预期是合理的，但它无法向你保证这种预期是正确的，公司提醒投资者，实际业绩可能与预期业绩存在重大差异。
For more information, please contact:
欲了解更多信息，请联系：
Company Contact:
Yan Liu
Director, Investor Relations
AirMedia Group Inc.
Tel:
Email:
公司联系人：
刘岩
投资者关系总监
AirMedia 集团公司
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