Rumor: Health Media IPO Plan Delayed
South CN, 5/08/08
Rumors are circulating that delays in out-of-home display firm Health Media's IPO plans have seen a number of executives jump ship and join competitor Yanhuang Health Media - including the high-ranking Song Hua, who controlled Health Media's business in the north and east of China. Song will become Yanhuang's VP with responsibility for major markets including Beijing, Shanghai, Shenzhen and Guangzhou.
Health Media CEO Fu Xinhua said today that Song's move was not due to IPO issues, but that he had been headhunted. He also revealed that a third round of investment worth USD 60 mln will soon be in place, and that plans for a series of acquisitions are underway - including five regional firms and three national ones.
Keywords: Song Hua HR third-round VC funding M&A Fu Xinhua Health Media IPO out-of-home display television Yanhuang Health Media
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