Further information regarding these and other risks is included in the Company's filings with the SEC, including its registration statement on Form F-1, as amended, and its annual reports on Form 20-F. All information provided in this press release and in the attachments is as of the date of this press release, and Phoenix New Media does not undertake any obligation to update any forward−looking statement, except as required under applicable law. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Being an internet distribution channel for Phoenix TV's premium content, it also sources content from various professional media institutions, as well as user-generated and in-house produced content. NYSE-listed Phoenix New Media is the second major Chinese news portal to fall victim to a new wave of tightened internet control under Zhuang, who … Phoenix Television is a television network that offers channels with Mandarin and Cantonese-language content that serve the Chinese mainland and Hong Kong along with other markets with substantial Chinese viewers, operated by Phoenix Satellite Television Holdings Limited, a television broadcaster based in Hong Kong and registered in Cayman Islands. Why Did Phoenix New Media Ltd. ADR Jump on Tuesday? Phoenix New Media may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission ("SEC") on Forms 20-F and 6-K, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Having originated from a leading global Chinese language TV network based in Hong Kong, Phoenix TV, the Company enables consumers to access professional news and other quality information and share user-generated content on the Internet and through their mobile devices. Private Securities Litigation Reform Act of 1995. Sign up to receive e-mail alerts whenever Phoenix New Media Limited posts new information to the site. BEIJING, March 22, 2019 /PRNewswire/ -- Phoenix New Media Limited ("Phoenix New Media", "ifeng" or the "Company") (NYSE: FENG), a leading new media company in China, today announced that it has entered into a share purchase agreement (the "SPA") with Run Liang Tai Management Limited ("Run Liang Tai") to sell 32% of the total outstanding shares of Particle Inc. ("Particle") to Run Liang Tai and its designated entities (the "Proposed Buyers") for a total consideration of US$448 million in cash (the "Proposed Transactions"). A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company's goals and strategies; the Company's future business development, financial condition and results of operations; the expected growth of the online and mobile advertising, online video and mobile paid service markets in China; the Company's reliance on online advertising and MVAS for the majority of its total revenues; the Company's expectations regarding demand for and market acceptance of its services; the Company's expectations regarding the retention and strengthening of its relationships with advertisers, partners and customers; fluctuations in the Company's quarterly operating results; the Company's plans to enhance its user experience, infrastructure and service offerings; the Company's reliance on mobile operators in China to provide most of its MVAS; changes by mobile operators in China to their policies for MVAS; competition in its industry in China; and relevant government policies and regulations relating to the Company. "We believe that selling partial ownership of Yidian to a strategic buyer will help maximize Yidian's growth potential as well as fuel our own growth in the long-run.". As previously announced by the Company, the Company entered into a binding letter of intent (the "LOI") for the Proposed Transactions on February 23, 2019. All Rights Reserved. Phoenix New Media Ltd. is engaged in the provision of media and advertising services through internet, mobile, and television channels. Having originated from a leading global Chinese language TV network based in Hong Kong, Phoenix TV, the Company enables consumers to access professional news and other quality information and share user-generated content on the Internet through their PCs and mobile devices. For investor and media inquiries please contact: Phoenix New Media Limited Qing Liu Email: [email protected], ICR, Inc. Jack Wang Tel: +1 (646) 405-4883 Email: [email protected], Cision Distribution 888-776-0942 The Ascent is The Motley Fool's new personal finance brand devoted to helping you live a richer life. There is no assurance that the Proposed Transaction will ever be closed. from 8 AM - 9 PM ET, Particle owns Yidian Zixun ("Yidian"), a rapidly-growing personalized news and lifestyle information application in, Copyright © 2020 PR Newswire Association LLC. Phoenix New Media to Announce Second Quarter 2020 Financial Results on Monday, August 17, 2020 PR Newswire BEIJING, Aug. 11, 2020 BEIJING, Aug. 11, 2020 /PRNewswire/ -- Phoenix New Media … Private Securities Litigation Reform Act of 1995. On May 12, 2011, PNM was listed on NYSE. FENG earnings call for the period ending March 31, 2020. Just enter your e-mail address and click Submit. FENG earnings call for the period ending June 30, 2019. FOX 10 is your home for news, weather, traffic and politics in the Phoenix, Arizona metro area, plus live breaking news coverage. Completion of the Proposed Transactions, however, are still subject to certain closing conditions (the "Closing Conditions"), including but not limited to approvals by the board of directors and shareholders of the Company's parent company, Phoenix Media Investment (Holdings) Limited (including any related necessary approval by The Stock Exchange of Hong Kong Limited), as well as approvals, consents and waivers, as applicable, of other shareholders of Particle. The Proposed Buyers has paid approximately US$99.3 million (the "Remaining Payment") to the Company under the New SPA, which represents the difference between the total purchase price and the US$50 million deposit already paid by the Proposed Buyers under the Previous Agreement plus certain other accrued interests. Here's how Phoenix is gaining momentum and beating expectations. Once the delivery is completed, the Company will have sold a total of 235,051,527 shares of Particle to the Proposed Buyers at a total price of US$350 million. Its total revenue in 2012 was US$1.1 billion.