China MediaExpress Holdings, Inc. (fka CCME)

[tenenbaum]

That's good to know.

I've been racking my brain trying to figure out what's holding CCME back and the only thing I can come up with is the possibility that the bus operators might be in a strong position to ask for much higher prices in the future when their contracts are up for renewal, similar to what happened to AMCN. It's clear that CCME is operating in a very profitable segment and I wonder how much their government agreement protects them from competitors bidding up concession fees in the future. Obviously, this would all be detrimental to gross margins.

Do you have any insight into this or had any conversations with Jacky about it?