NEW YORK, Sept. 4 /Xinhua-PRNewswire-FirstCall/ -- Network CN Inc. (OTC Bulletin Board: NWCN - News), a Chinese media company headquartered in Hong Kong, today announced the sale of its NCN Management Services business unit in order to continuously focus on developing its media business. Included in the sale are NCN Management Services subsidiaries NCN Hotels Investment Limited and NCN Pacific Hotels Limited, both British Virgin Islands corporations, and a 55% interest, held in trust, in Guangdong Tianma International Travel Service Co., Ltd.The Company also announced key additions to its management team.
"We have shifted our business direction from travel to out-of-home media since late 2006 and have been trying to sell our non-core business since Q2 2008. The sale of NCN's travel services business will allow us to focus 100% on growing our media presence in China's booming consumer economy," commented Network CN Chairman Godfrey Hui. "As we focus on growing our media business, we are pleased to add to our management roster Bill Au, who will head our China media operations, Larry Rinaldi, who will advise on corporate and sales strategies, and Danny Chung, a seasoned accounting professional with multifaceted international experience and extensive knowledge of the taxation and compliance landscape of China."
William Au, the new President of China Media Operations, has held senior management positions in advertising, distribution, digital media development and satellite channel operations and has also served as a consultant to overseas investors seeking to gain entry into the China market. His extensive experience includes executive positions with Chinese Art Channel, New World Allmedia and New World Digital Multi-Media Technology, members of the New World Group, Hong Kong's MATV Limited satellite television channel, Asia Television Limited (Hong Kong), the ATV subsidiary of Asia Television Limited, Chinese Television Limited of Hong Kong and Taiwan, and Hong Kong's Television Broadcasts Limited (TVB).
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