Multi-media investment firm Tom.com Ltd said it is in talks to acquire Diannao Bao (PC Weekly), a leading mainland computer weekly magazine.
However, no agreement has been reached, said the company in a statement Friday.
Chongqing-based Diannao Bao has a readership of around 3.3 million in China, with advertising income of 125 million yuan (15.1 million US dollars) for fiscal 2001.
Tom.com, controlled by Hong Kong tycoon Li Ka-shing, signed an initial agreement to form a joint venture with Sanlian to run the state-owned publisher's magazine advertising sales and distribution businesses this month.
The company has made about 30 acquisitions, including outdoor advertising firms, a sports marketing company and publishers in Hong Kong, Taiwan and the Chinese Mainland.
(People’s Daily September 14, 2002)
