Tech & IT

Idea Asia, GMEG enter acquisition agreement

By Team Diginews4u ⋅ April 24, 2009 ⋅  Email This Post ⋅ Post a comment

Asia Global Holdings’ subsidiary Idea Asia and Global Media & Entertainment (GMEG) have entered into an agreement whereby GMEG has agreed to acquire Idea Asia from AAGH subsidiary Sino Trade Intelligent Development (Sino Trade) in return for 7.5% of GMEG’s common stock and other considerations. The deal is pending exchange of consideration on or before 15 May.

AAGH Management believes this transaction will provide the company and its shareholders the opportunity to benefit from the company’s investment in TV entertainment and the future potential value of Idea Asia while easing the company’s expense burden related to overhead, production, marketing and distribution.

Idea Asia based in Hong Kong and Shanghai, acquires, creates, funds, and produces internationally & locally created content for distribution throughout various media channels in China. The company provides ‘value-added services’ to marketers, advertisers, and media outlets by bringing TV and entertainment content and branded content formatted to be delivered throughout China.

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Tags: Investment, Marketing, TV