China Education Alliance, Inc. (OTCBB: CEUA), a leading distributor of educational resources offering high-quality programs and training both through online networks and an on-site training center in China, recently announced that its wholly-owned subsidiary, Harbin Zhong He Li Da Education Technology, Inc. (Harbin ZHLD), has entered into a new media joint venture to broaden the company’s distribution channels into mainstream newspaper media.
Harbin ZHLD has invested in a joint venture company, Harbin New Discovery Media Co., Ltd. (Harbin Media), with Harbin Daily Newspaper Group (Harbin Daily), and contributed approximately $430,000 in cash for a 49.02 percent equity interest in Harbin Media. Harbin ZHLD will cooperate with Harbin Daily to run the newspaper, “Scientific Discovery,” under the new joint venture.
Scientific Discovery is expected to promote the China Education Alliance brand while minimizing advertising expenses to facilitate the company’s nationwide expansion, win the long-term loyalty of readers and generate significant revenue. China Education Alliance’s Harbin ZHLD subsidiary plans to publish this newspaper twice a week, and expand distribution of the publication on a national basis. By the end of 2009, China Education Alliance expects weekly newspaper sales to reach up to 150,000 sets, and to generate approximately $3.6 million in total revenues.
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