I don't think CCME fundamentals would be impacted by a decrease in consumer demand too much.
Remember they advertise on buses and mass trasportation is the preferred method of travel for people in China. Another thing to note is the very low rates CCME charges advertisers compared to other companies, if anything the rates will only go up even with a downturn.
But the biggest advantage as you pointed out is the cash hoard of $200mil+ and you combine that with the savvy management of CCME and I am fairly certain they will take advantage of market conditions and make some solid moves.
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