Hurray! News
Hurray! to Terminate Proposed Business Combination with Enlight Media
BEIJING, March 6, 2008 /Xinhua-PRNewswire/ -- Hurray! Holding Co.,
Ltd. (Nasdaq:HRAY - News), a leader in artist development, music
production and wireless music distribution and other wireless value-added
service in China, today announced that the Company and Enlight Media
have both agreed to terminate their proposed business combination
announced on November 19, 2007 due to a divergence in business strategies
and a mutual determination that a combination would not be in their
mutual interests.
About Hurray! Holding Co., Ltd.
Hurray! is a leader in artist development, music production and
offline distribution in China through its record labels Huayi Brothers
Music, Freeland Music, New Run Entertainment, and Secular Bird.
Hurray! is also a leading online distributor of music and music-related
products such as ringtones, ringbacktones, and truetones to mobile
users in China through the full range of wireless value-added services
platforms over mobile networks and through the internet.
The Company also provides a wide range of other wireless value-added
services to mobile users in China, including games, pictures and
animation, community, and other media and entertainment services.
Forward-looking Statements
This press release contains statements of a forward-looking nature.
These statements are made under the "safe harbor" provisions
of the U.S. Private Securities Litigation Reform Act of 1995. You
can identify these forward- looking statements by terminology such
as "will," "expects," "believes" and
similar statements. The accuracy of these statements may be impacted
by a number of business risks and uncertainties that could cause
actual results to differ materially from those projected or anticipated,
including risks related to: Hurray!’s continued competitive pressures
in China's wireless value-added services market; changes in the
policies of the mobile operators in China or the laws governing
wireless value-added services; the state of Hurray!'s relationships
with China's mobile operators and the risk that Hurray! may be subject
to further sanctions and penalties from them in future periods;
and other risks outlined in Hurray!'s filings with the Securities
and Exchange Commission, including its annual report on Form 20-F.
Hurray! does not undertake any obligation to update this forward-looking
information, except as required under applicable law.
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For more information, please contact:
Christina Low F.S.
Investor Relations Officer
Tel: 8610-84555532
IR@hurray.com.cn
SOURCE: Hurray! Holding Co., Ltd.
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