Advertorial giant Zhaomitong plans to buy a public relations company

2010-08-19 16:33 0

According to a report on May 14, a plan to acquire a well-known public relations company in China for 100 million yuan has begun to be implemented, which will complement the group's traditional public relations business and enhance its capabilities in public relations planning.

Asahi Press spokesman revealed yesterday that the company is in the process of acquiring a "good" traditional public relations company with strong cash inflow in order to consolidate Asahi's market share in the advertorial industry. Negotiations have entered the final stage and the equity is worth at least 100 million yuan. As part of its expansion into traditional public relations, Aswen also plans to buy internal shares in several of China's largest web portals to gain control of them. According to a spokesman for Zhaomitong (media agency), Zhaomitong Group's core net profit in 2010 will rise 128% year-on-year. Core net profit does not include the network word-of-mouth monitoring system and crisis management and other benefits.