Lehman shares suspended acquisition of China Vision, new cultural layout, sports industry still proceeds as originally planned

It is worth noting that this "suspension" is not a "termination" of the acquisition. The difference of one word means that Lehman can launch the restructuring plan again in the future. In this regard, Lehman's board secretary Luo Wei also told reporters: "The suspension of the acquisition is not the company's initiative, but is affected by the recent regulatory policies on overseas listed companies. The acquisition may still be restarted at an appropriate time in the future."

Original title: Lehman suspends its acquisition of China Television New Culture Layout Sports Industry Brake?

Starting from LED, the layout of Lehman shares, which has gradually entered the sports industry in recent years, has encountered resistance.

On July 22, Lehman issued an announcement stating that since the policies related to the return of overseas listed companies to A-shares have not yet been clarified, Lehman decided to apply to the China Securities Regulatory Commission to suspend the acquisition of China Vision New Culture Media Co., Ltd., a holding subsidiary of China Vision Media Group (hereinafter referred to as "China Vision New Culture").

In April this year, Lehman announced a reorganization plan, planning to purchase all of the subway mobile TV business operated by China Television Media at a price of 780 million yuan. It also stated that through this acquisition, the company will extend its sports media resource customers to subway TV and other media, comprehensively Lay out the sports marketing resource industry chain.

It is worth noting that this "suspension" is not a "termination" of the acquisition. The difference of one word means that Lehman can launch the restructuring plan again in the future. In this regard, Lehman's board secretary Luo Wei also told reporters: "The suspension of the acquisition is not the company's initiative, but is affected by the recent regulatory policies on overseas listed companies. The acquisition may still be restarted at an appropriate time in the future."

Acquisitions may still be restarted in the future

. In February this year, Lehman and China Television Media jointly announced that Lehman would acquire the subway mobile TV business operated by China Television Media in cash and by issuing shares. According to the equity transfer agreement, Lehman will pay the consideration for this transaction in the form of 390 million yuan in cash and additional shares worth 390 million yuan to China Television Media. The estimated value of China Television New Culture is 782 million yuan.

As a holding subsidiary of China Television Media, a U.S. listed company, China Television New Culture is an important part of Lehman's entry into sports marketing and subway advertising businesses.

According to the acquisition plan previously disclosed by Lehman, China Television New Culture's main business is subway TV media advertising services. It operates subway TV advertising in 19 cities across the country, accounting for more than 85% of the number of domestic cities that opened subway at the end of 2014. After Lehman completes its acquisition, it will have access to nearly 100,000 subway screen terminals covering first-tier cities such as Beijing, Shanghai, Guangzhou and Shenzhen and more than ten second-tier core cities, and will be able to use existing LED resources and subway media to promote the development of the main sports business.

This time, Lehman shares applied to the Securities and Futures Commission for "suspension" of the acquisition rather than "termination". On July 21, in his reply to the company's strategy on the investor interaction platform, the Secretary of the Board of Directors of Lehman still contained relevant statements on "promoting the acquisition of China Television's new culture to achieve the coordinated development of sports resources and advertising media business." Statement.

"This suspension of reorganization is not an initiative by the company, but is influenced by recent regulatory policies on overseas listed companies." Luo Wei told reporters that the current policies on mergers and acquisitions of assets of overseas listed companies are still unclear, and similar mergers and acquisitions by many companies have been temporarily suspended.

The layout of the sports industry has been frequent

in Lehman's sports landscape, and the media section has always played an important role. In 2011, Lehman Group established a strategic partnership with the China Football Association, signed a five-and-a-half-year cooperation agreement with China Super League, and used the "LED screen for advertising" method to enter the football field, making it famous for a while.

In recent years, competition in the LED industry has been extremely fierce, and Lehman's transformation into sports has become a trend. In its 2015 annual report, the company used the term "dual main business development strategy of high-tech LED industry and sports industry" for the first time. It has also made frequent actions in the field of sports, successively naming the Portuguese A, establishing the Lehman Kaixing Sports Culture Fund, and Shenzhen Renren Football Club.

Since the State Council issued "Document No. 46" on the sports industry in 2014, which promoted the sports industry to a national strategy for the first time, various types of capital have surged in the sports industry. Compared with giants like Wanda and Ali, Lehman Chairman Li Mantie once said that Lehman's sports development is mainly focused on the football field and will not invest on a large scale like Wanda and other companies.

In fact, China Television New Culture and its parent company China Television Media both operate in the football field. The acquisition plan disclosed that China Television Media has become the only mobile TV strategic partner of the Chinese Super League since the beginning of 2013 and has a five-year cooperation contract. In addition, the reporter combed and found that China Television Media has also planned 6 TV programs specifically for the Super League and launched an APP application about Super League competitions.

This time, does the suspension of the acquisition of China Television New Culture mean that the deployment of Lehman shares in the sports industry chain will slow down? In this regard, Luo Wei told reporters that the temporary suspension of the acquisition will not have any impact on the company. Entering the sports industry is the company's established strategy, and cooperation negotiations with China Television Media are also proceeding in an orderly manner.

Editor: Nancy