Focus Media to Sell Part of Advertising Business

By staff reporter Ma Jingying

(.com.cn) Digital advertising company Focus Media Holding Ltd. said it plans to sell part of its Internet and outdoor advertising business in the third quarter as part of restructuring.

The company disclosed the plan in its second-quarter earnings report. No further details were provided.

Focus Media posted a net loss of US$22.7 million in the second quarter, or US$0.18 per American depository share, compared with a net loss of US$5.7 million, or US$0.04 per ADS, in the first quarter, the company said in a Sept. 18 statement.