October 19, 2010 (FinancialWire) (http://www.financialwire.net/) — Charm Communications, Inc. (NASDAQ: CHRM), a Chinese advertising agency, said that it has signed a cooperation agreement to establish a joint venture with Wasu Digital Group.

Wasu is China's largest operator and digital content provider for cable TV, 3G mobile TV and broadband TV and a supplier of IPTV services. Wasu is also one of three national operators, alongside China Central Television and Shanghai Media Group, to receive licenses to operate across IPTV, 3G mobile TV and broadband TV networks as part of China's three-network convergence.

According to Charm, the joint venture will be 49% owned by Charm and 51% owned by Wasu and will have the right to operate all advertising-related businesses across Wasu's three-network platform for 20 years.

The joint venture, with Charm as its advertising agency, will seek to develop and set the advertising industry standards on these new media network platforms, including the development of advertising products, product pricing, sales strategy, promotional materials as well as the development of advertising sales and agency policies.

China-based Charm Communications operates its business under three brands: Charm Advertising, Charm Interactive, and Shangxing Media.

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