Focus Media Information Technology Co Ltd  announced last night （21st April）it would invest $ 200m in the sports industry. 

Focus Media said in the statement that it would partner with FountainVest China Growth Partners GP2 Ltd to found a company, to be named Focus Media FountainVest Sports JV L.P. 

Focus Media FountainVest Sports JV L.P. will invest in domestic and global high-quality sports industry startups.

Focus Media will invest up to $ 200m in Focus Media FountainVest Sports JV L.P. and take up to a 50% share of the company.

Focus Media Information Technology Co Ltd, the undisputed Chinese outdoor-display advertising giant, delisted from the U.S. In 2013 in one of China’s biggest leveraged buyouts.

It now trades shares on China’s A-share market through a reverse merger and is valued at around RMB 135.4 billion.

Source：Focus Media

Proofread by John Devlin.