Tom.com In talks to Acquire Mainland Computer Weekly

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Last updated at: (Beijing Time) Saturday, September 14, 2002

Tom.com In talks to Acquire Mainland Computer Weekly

Multi-media investment firm Tom.com Ltd said it is in talks to acquire Diannao Bao (PC Weekly), a leading mainland computer weekly magazine.

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Multi-media investment firm Tom.com Ltd said it is in talks to acquire Diannao Bao, a leading mainland computer weekly magazine.

However, no agreement has been reached, said the company in a statement Friday.

Chongqing-based Diannao Bao has a readership of around 3.3 million in China, with advertising income of 125 million yuan (15.1 million US dollars) for fiscal 2001.

Tom.com, controlled by Hong Kong tycoon Li Ka-shing, signed an initial agreement to form a joint venture with Sanlian to run the state-owned publisher's magazine advertising sales and distribution businesses this month.

The company has made about 30 acquisitions, including outdoor advertising firms, a sports marketing company and publishers in Hong Kong, Taiwan and the Chinese Mainland.

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