Phoenix New Media Announces Further Update on the Proposed Sale of Investment in Yidian
Phoenix New Media Limited American Depositary Shares, each representing 48 Class A ordinary shares. (FENG)
Last phoenix new media limited american depositary shares, each representing 48 class a ordinary shares. earnings: 3/18 05:00 pm
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US:NYSE Investor Relations:
ir.ifeng.com
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Source: PR Newswire
BEIJING, Oct. 4, 2019 /PRNewswire/ -- Phoenix New Media Limited ("Phoenix New Media", "ifeng" or the "Company") (NYSE: FENG), a leading new media company in China, today announced further update on its proposed sale of 34% of the total outstanding shares of Particle Inc. ("Particle" or "Yidian") to Run Liang Tai and its designated entities (the "Proposed Buyers") (the "Proposed Transaction").As previously announced by the Company, the Company entered into a share purchase agreement (the "SPA") with the Proposed Buyers on March 22, 2019 for the Proposed Transaction, and entered into a supplemental agreement (the "Supplemental Agreement") to the SPA on July 23, 2019. The Supplemental Agreement is subject to approval by the shareholders of the Company's parent company, Phoenix Media Investment (Holdings) Limited (HK: 2008), a company listed on The Stock Exchange of Hong Kong ("Phoenix TV"), and may also be terminated if Particle's other shareholders do not waive their rights under Partic
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