Focus Media Holding Ltd. (FMCN)

[mlkrborn]

Focus Media announced its intention to continue repurchasing shares; Chairman announced $11 mln block purchase of ADSs (FMCN) 16.94 +1.45 : Co announced its intention to continue purchasing shares pursuant to its previously announced share repurchase program. In addition, the Company also announced that chairman Jason Jiang will purchase $11 mln in Focus Media ADSs in a block trade. "Our commitment to the Company's repurchase program and my own decision to purchase additional ADSs of the Company both reflect our belief in the soundness of our business fundamentals and the ongoing strength of our core business. We believe repurchasing at the current price level would be highly accretive to shareholders," said Jason Jiang, Chairman and Chief Executive Officer of Focus Media. As of November 22, 2011, ~ $300 mln remains available for the repurchase program.