$17.2 Advertising Deal for China Global Media $CGLO

$17.2 Advertising Deal for China Global Media

China Global Media, Inc. (OTCBB:CGLO), a Changsha, China-based business advertiser, reported this morning that its affiliated operating company, Changsha Zhongte Trade Advertising Co., Ltd penned a one-year exclusive advertising placement with Guangzhou Hiahe Cosmetics Manufacturing Co., Ltd to place advertisements for Jiahe’s cosmetic products on Human Satellite Television Channel. China Global Media expects to receive approximately $17.2 million during 2012 from the agreement.

This news follows on the heels of two announcements from China Global Media earlier this month. The company disclosed that Changsha North Latitude 30 Cultural Communications Co., Ltd., one of China Global’s affiliated operating entities, entered two one-year industry specific advertisement placement agency agreements with Hunan Golden Eagle 955 Radio Station. Given the placement rights that the CGLO receives under these two agreements, it expects to receive approximately $2.6 million in advertisement fees in the 2012 fiscal year.

Of a similar nature, the other advertising contract expects to add $2.5 million to the China Global Media coffers through another of CGLO’s affiliated operating entities.

China Global Media (CGLO) Stock Quote and News:

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$17.2 Advertising Deal for China Global Media

China Global Media (CGLO) Stock Quote and News:

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