Chinese advertising company Focus Media Holding Ltd is considering acquiring four Internet firms to bolster its fledgling online business, an official newspaper reported on Monday.
Shanghai-based Focus Media is already discussing acquisition terms with the four companies, the official China Securities Journal said, quoting "authoritative" sources, and is mainly eyeing short messaging and wireless value-added services.
Two of the targets are based in the southern Chinese city of Shenzhen, one in Beijing and another in Zhengzhou, the paper said. The last two firms are subsidiaries of the same company.
A Focus Media spokeswoman had no comment. Focus Media, which runs a network of thousands of flat-screen TVs that display ads in stores, offices, theatres and apartment buildings, said earlier this month it had agreed to buy top Chinese online advertising firm Allyes Information Technology for up to $300 million, in its first foray into online advertising.