Phoenix Media Sets Eyes on US Investors 凤凰新媒体寻求美国上市
Anyone out there looking for a new media bet that offers more than the usual Internet package might want to check out Phoenix New Media, which has just filed for a New York IPO worth up to $200 million (English article; Chinese article) I’ll be the first to admit that I’ve been a big fan of Phoenix’s parent, Hong Kong-listed Phoenix Satellite Broadcasting (HKEx: 2008), for quite a while now, due to its enviable position as a well-connected operator of the only foreign-owned news broadcaster with relatively broad access to the China airwaves. But given the perils of operating in traditional broadcasting in China, some of which I mentioned in a previous post, the new media space looks much more dependable and certainly has a lot more growth potential. Phoenix chief Liu Changle previously told me the company’s new media revenue grew 10-fold in the first half of 2010 from 2009, though obviously that rate will slow as its size — which reached $80 million last year — gets bigger. Still, there’s plenty of room left for growth in this company, which should be able to use its strong product and links to the mainstream China media establishment to track some good results going forward.
Bottom line: Phoenix New Media’s upcoming IPO will offer investors a chance at an interesting new media play with strong ties to China’s traditional media establishment.
如果想投资超出一般水平的新媒体公司，那你可能会对凤凰新媒体感兴趣。凤凰新媒体刚刚宣布计划在美国上市，最多募集资金2亿美元。首先我得承认，我是凤凰新媒体的母公司凤凰卫视<2008.HK>的超级粉丝，因为当年有相当长一段时间，凤凰卫视是唯一一家进入中国大陆电视媒体市场的海外中文电视媒体。考虑到在中国运营传统广电业务可能面临的险境，新媒体则显得更为牢靠，增长潜力也更大。凤凰卫视的老板刘长乐曾经告诉我，凤凰新媒体在2009-2010年上半年，营收增长了10倍，虽然随着规模(去年达到8,000万美元)增长，营收增速很明显会有所下降。不过这个公司还有很大增长空间，其强大的产品以及与中国主流媒体的关系，将为其带来良好的前景。
一句话：与中国传统媒体有牢固关系的凤凰新媒体，是投资者的一个机会。
Related postings 相关文章:
◙ Take a Deep Breath: China IPO Flood Looms 中国概念股又一春？
◙ Phoenix Wings Getting Clipped?
