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HONG KONG, March 24 /Xinhua-PRNewswire-FirstCall/
-- China Digital Media Corporation (the 'Company') (OTC Bulletin
Board: CDGT) announced today that WallStreet Research ('WSR') has
initiated its analyst research coverage of the Company's shares
with a speculative buy recommendation. The complete report, together
with attendant risk factors, as well as additional information about
WallStreet Research is available at http://www.WallStreetResearch.org
.
WallStreet Research is a prominent research boutique
led by Alan Stone, Managing Director of Alan Stone & Company,
LLC ('ASC'). The firm specializes in the microcap and smallcap investment
arena, looking for emerging growth companies with strong management,
unique or proprietary technology, significant market potential,
financial strength, and outstanding long-term earnings growth possibilities.
Mr. Stone was formerly a securities analyst and assistant portfolio
manager at Merrill Lynch Asset Management and an investment analyst
at Prudential Insurance Company's Capital Markets Group. The firm
has offices in Los Angeles, CA, Palm Beach, FL, and New York City,
NY, and is well known for discovering undervalued companies and
bringing them to the attention of the investment community. ASC/WSR
also arranges road shows for its publicly traded clients, before
the investment community in New York City, California, and Florida.
China Digital Media Corporation (
http://www.chinadigimedia.com ) is an integrated media company
focused on digital cable television (DTV) operations, advertising
sales and programming content production in the People's Republic
of China (PRC). Through its wholly owned subsidiary, Arcotect (Guangzhou)
Limited, the Company developed a digital broadcasting technology
platform and provides DTV services in Nanhai, Guangdong Province
by converting analogue cable television signals via digital set-top-boxes
and smart cards. Operating since early 2004 as a sole contractor
of a monopolistic cable TV provider owned by the local government,
the Company has migrated approximately 150,000 out of 400,000 subscribers
by yearend 2005. The Company is also engaged in television advertising
sales business through its wholly owned subsidiary, Guangdong M-Rider
Media Company Limited. Acting as an exclusive agent, the Company
signed a $6.3 million advertising wholesaler contract, its largest
in history, to manage the commercial airtime of a provincial television
station's channel. Finally, through a strategic partnership with
Guangdong HuaGuang DigiMedia Culture Development Limited, a variable
interest entity, the Company invests in production of programming
content. The Company has invested in the production of two drama
television series, one of which already started generating revenue,
and is undertaking additional investments through acquisitions and
joint ventures. Overall, the Company has about 240 employees located
predominately in the PRC, with more than half committed to the sales
and marketing function. Trading on the OTC Bulletin Board under
the symbol CDGT, the Company is positioned to benefit from the vertical
integration of its media investments and capitalize on the rapid
transformation in the television business in China.
For more information on us, please go to our website
at: http://www.chinadigimedia.com.
To be added to China Digital Media's investor e-mail
list, please send e-mail to our Investors Relations at ir@chinadigimedia.com.
About China Digital Media Corporation
China Digital Media Corporation focuses its business
in three main areas: Cable TV Operations, Advertising Sales and
Programs Production. Arcotect (Guangzhou) Limited, a wholly owned
subsidiary of CDGT in China, is the sole contractor and operator
of digital television services in Nanhai, a city with 400,000 cable
TV subscribers. The service could offer more than 800 digital channels
of pay TV programs and value added multimedia services. The Company
entered into the strategic alliance with Guangdong HuaGuang Digimedia
Culture Development Limited in June 2005.
Certain information contained in these materials
is 'forward-looking' information, such as projections, estimates,
pro formas, or statements of intentions, expectations or plans.
All forward-looking information is subject to known and unknown
risks and uncertainties, many of which are outside of the control
of the company. Consequently, actual results may, and probably will,
differ materially from the results contemplated in such forward-looking
information.
Disclaimer
The information presented in the WallStreet Research
report is not to be construed as an offer to sell, nor a solicitation
of an offer to purchase, any securities referred to herein or otherwise.
Readers are encouraged to conduct their own due diligence and review
all of the company's financial statements and risk statements on
file with the SEC. China Digital Media Corporation has paid a consulting
fee of $2,000 and 2,381 shares of common stock to Alan Stone &
Company LLC for certain investor relations roadshow services, as
well as a research fee of $8,000 in conjunction with preparation
and distribution of this report, and committed an additional $5,000
for an update of the report in the next quarter. Alan Stone &
Company, LLC may also earn additional fees for organization of road
shows or other investor relations activities. Alan Stone & Company,
LLC or its associates may own shares, for investment purposes, in
its corporate accounts, and may increase or decrease its positions
at any time, without notice.
For more information, please contact:
China Digital Media Corporation
Investor Relations
Tel: +852-2390-8686
Daniel Schustack
CEOcast, Inc.
Tel: +1-212-732-4300
Alan Stone
Alan Stone & Company, LLC
Tel: +1-212-521-4102
Email: astone@alanstone.com
SOURCE China Digital Media
Corporation
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