The board of directors for Asiacontent.com, Ltd. unanimously voted to liquidate the company. A proxy statement describing the firm’s dissolution has been mailed to all stockholders as of June 7.
The board reached its decision after attempts to sell the company or find a strategic alliance partner failed. The company’s continuing operations were draining its cash. Once a liquidator is appointed, the final wind-down is expected to take 24 months.
Hong Kong-based Asiacontent.com delivers targeted online advertising messages to consumers in Korea, China, Hong Kong and Singapore. A separate joint venture produces music news, information and youth-oriented promotions in Korea, China, Taiwan, Southeast Asia and India.
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