Editorial Summary

Transit-focused media advertising operator Sky Flying Media finished a new round of equity financing of up to US$83 million from Series A investors including Goldman Sachs, New Horizon Capital, Sequoia China and Farallon Capital. According to the company's statement, the deal is "the largest private equity financing recorded in China's outdoor advertising business." As part of the deal, New Horizon Capital CEO Dr. Jianming Yu and former Viacom Outdoor CEO Tom Goddard will join Sky Flying Media's board. Citigroup Global Markets provided financial advising for the deal. Founded in 2006, Sky Flying Media operates networks in airports, subway and train stations in Beijing, Guangzhou and Shenzhen.