DoCoMo to Acquire Stake in DMG

NTT DoCoMo said today that the company will invest $4.2 million in newly issued stock for an equity stake in Digital Media Group Co., Ltd., which owns Beijing Eastlong Technology Development Co., Ltd., a company that produces and distributes digital advertisements, content and services for the subway stations and trains in Shanghai. The investment will take place in January 2005. Through Eastlong Technology, DMG is planning to expand its digital media business using the latest wireless technologies, starting from transportation ads in trains and at subway and monorail stations throughout China.

DoCoMo hopes, through the investment, to increase its presence in China’s mobile telecommunications industry, such as in businesses combining digital media and wireless technologies. DMG is headed by Lim Shen Long, and was incorporated in May 2003 in the British Virgin Islands. Eastlong Technology is headed by Jia Peijun, and was established in Dec. 2001 in the People’s Republic of China. Press Release Here.