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.