Focus Media Announces Repurchase of 1.96M Shares From Fosun International at $30.67 per ADS

Focus Media Holding Limited FMCN today announced that they have entered into a definitive agreement with Fosun International, one of Focus Media's shareholders, pursuant to which Focus Media will repurchase from Fosun International 1,956,310 ADSs, each representing five ordinary shares of Focus Media at a price of US$30.67 per ADS (or US$6.134 per ordinary share), totaling $60 million through a privately negotiated transaction. Inclusive of this block repurchase, Focus Media has to date approximately spent $300 million of its previously announced share repurchase program. ADSs and ordinary shares will be cancelled, subject to customary cancellation procedures, upon repurchase.