Xinhua Sports Acquires Two Chinese Sports Media Firms

Authored by Mark Hefflinger on December 4, 2009 - 9:03am.

Beijing - Xinhua Sports & Entertainment Limited (XSEL) (NASD: XSEL), a Chinese media firm, announced on Friday that it will acquire Chinese sports portal operator NuCom Online, as well as China Sports Media, the country's largest sports media rights distributor.

Under the terms, XSEL will pay about $27.6 million in stock for NuCom, and around $15.5 million in cash and stock for China Sports Media.

NuCom's NuBB portal offers live and delayed NBA games and highlights, and counts over 8 million registered users and 15 million monthly unique visitors.

China Sports Media has over 80% of the Chinese sports television rights and distribution market, and is partnered with the Chinese Olympic Committee and All-China Sports Federation.

Related Links:
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http://www.xsel.com