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Shandong Media Joint Venture
3 Months Ended
Mar. 31, 2012
Shandong Media Joint Venture [Abstract]  
Shandong Media Joint Venture
5.             Shandong Media Joint Venture
 
In connection with the Shandong Newspaper Cooperation Agreement, based on certain financial performance thresholds we were required to make an additional payment of RMB 5,000,000 (approximately US $791,300) to Shandong Media. In 2008, we recorded the additional payment due as an increase to our Shandong Media non-controlling interest account.

In January 2012, the Company, through Jinan Zhong Kuan, signed a Memorandum of Understanding ("MOU") with Shandong Broadcast and Modern Movie, our partners in our Shandong Media joint venture company, whereby upon execution of a formal agreement, the Company will be relieved of its obligation to make the additional payment of RMB 5,000,000 (approximately US $791,300) described above in exchange for payment of RMB 1,000,000 (approximately US $158,300) to Shandong Media and the transfer of 20% of the Company's 50% ownership interest in Shandong Media to Shandong Broadcast and Modern Movie.  On April 28, 2012 Jinan Zhong Kuan made payment of RMB 1,000,000 to Shandong Broadcast in connection with the signed MOU.  Once all parties execute the equity transfer ownership agreement, Shandong Broadcast will file an application with the PRC State Administration for Industry & Commerce ("AIC") to effect the changes made in the Articles of Association ("AOA") and complete the transaction.  Upon the effectiveness of such equity transfer ownership during the second quarter of 2012, the Company will deconsolidate Shandong Media's assets and liabilities.

As of the date of this filing, the formal agreement to transfer 20% of the Company's 50% ownership interest in Shandong Media to Shandong Broadcast and Modern Movie had not been finalized and the VIE structure under which the Company controls Shandong Media remains in place.