AirMedia pursues legal action aiming to resolve disputes with China Railway Century Media Advertising Co., Ltd. and China Railway Beijing Group Co.,Ltd.
AIRMEDIA GROUP (AMCN)
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Source: PR Newswire
BEIJING, Feb. 19, 2019 /PRNewswire/ -- AirMedia Group Inc. ("AirMedia" or the "Company") (Nasdaq: AMCN), an operator of out-of-home advertising platforms in China targeting mid-to-high-end consumers as well as a first-mover in the travel Wi-Fi market, today announced that its subsidiary Guangzhou Meizheng Online Network Technology Co., Ltd. (the "Subsidiary") has filed a lawsuit aiming to resolve disputes arising out of the non-performance of the Franchising Operation Agreement of Wi-Fi Wireless Network on High-speed trains Administered under Beijing Railway Administration (the "Agreement") signed on August 29, 2014 with China Railway Century Media Advertising Co., Ltd. and China Railway Beijing Group Co., Ltd. The lawsuit was filed with the Beijing High People's Court (the "Court") and the first court appearance is set for March 14, 2019.According to the Agreement, China Railway Century Media Advertising Co., Ltd. authorized the Subsidiary exclusive on-train concession rights to prov
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