Phoenix New Media Announces Further Update on 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, Jan. 20, 2020 /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 an agreement (the "Co-Sale Agreement") with Long De Cheng Zhang (Tianjin) Investment Management Center and Long De Holdings (Hong Kong) Co., Limited (collectively, the "Long De Entities") to settle the dispute with respect to the Long De Entities' co-sale rights under the existing shareholders agreement of Particle Inc. ("Particle" or "Yidian") as previously announced by the Company. The co-sale rights were alleged in connection with the Company's sale of shares of Particle to Run Liang Tai and its designated entities (the "Proposed Buyers") pursuant to a share purchase agreement (the "SPA") dated March 22, 2019, as amended by a supplemental agreement (the "Supplemental Agreement") dated July 23, 2019 (the "Proposed Transaction").Pursuant to the Co-Sale Agreement, the Long De Entiti
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