Xinchao Media controversies

China's SAMR conditionally approves Focus Media's acquisition of Xinchao Media with restrictive conditions

On October 9, 2026, China's State Administration for Market Regulation (SAMR) approved with restrictive conditions Focus Media Information Technology Co.'s acquisition of equity in Chengdu Xinchao Media Group Co., after finding the deal could eliminate or restrict competition in China's domestic elevator media advertising market. The decision, announced on October 10, requires Focus Media, Xinchao Media and the post-concentration entity to make six restrictive commitments, including continuing existing customer contracts and service levels, capping annual actual transaction prices at levels from the 24 months before the effective date, providing elevator media advertising services on fair, reasonable and non-discriminatory terms, waiving rights under existing exclusive clauses and not signing new exclusivity or automatic-renewal terms, and improving antitrust compliance. SAMR said it is the first conditionally approved concentration case in China's advertising industry.