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Acquisition Consideration Payable

12 Months Ended

Dec. 31, 2011

Acquisitions And Acquisition Consideration Payable [Abstract]

10. Acquisition consideration payable

During the year ended December 31, 2008 and 2010, the Group acquired the respective advertising businesses of Jincheng, Xinshichuang, Kaixiang, Wanshuizhiyuan, Shenyang Jingli, Botang, HK Ad-icon, Shengshitongda, Wenzhou Rigao, Wuxi Ruizhong and Zhejiang Continental (“acquired entities”). These acquisitions were unrelated to each other.

Pursuant to a series of acquisition agreements signed with each of the acquired entities’ former equity owners, which we refer to as the “ex-owners”, in 2008 and 2010 (“original acquisition agreements”), the purchase consideration for each acquisition is contingent based on the operational results agreed and confirmed by the Group and each of the acquired entities’ ex-owners in a 2-year earn-out period following respective acquisition dates (“earn-out period”).

The table below summarizes the contingent consideration associated with the Company’s 2008 and 2010 acquisitions:


	Total contingent consideration and paid up to December 31, 2010 and consideration payable as of December 31, 2010
Acquired Entity	Contingent consideration		Consideration paid in cash		Consideration paid in stock		Consideration payable		Payable in cash		Payable in stock
Xinshichuang	$	1,132	$	981	$	—	$	151	$	151	$	—
Jincheng		1,058		997		—		61		61		—
Kaixiang		15,396		7,423		—		7,973		3,953		4,020
Wanshuizhiyuan		10,554		8,996		—		1,558		—		1,558
Shenyang Jingli		17,222		15,853		—		1,369		—		1,369
Haiya		8,537		5,662		—		2,875		1,120		1,755
Botang		33,304		32,302		—		1,002		—		1,002
HK Ad-icon		2,407		1,545		—		862		593		269
Shengshitongda		121		121		—		—		—		—
Wenzhou Rigao		7,953		4,527		—		3,426		2,014		1,412
Wuxi Ruizhong		4,542		2,593		—		1,949		1,268		681
Zhejiang Continental		20,309		2,340		—		17,969		7,807		10,162
Total	$	122,535	$	83,340	$	—	$	39,195	$	16,967	$	22,228


	Total contingent consideration and paid up to December 31, 2011 and consideration payable as of December 31, 2011
Acquired Entity	Contingent consideration		Consideration paid in cash		Consideration paid in stock		Consideration payable		Payable in cash		Payable in stock
Kaixiang	$	16,183	$	7,802	$	4,225	$	4,156	$	4,156	$	—
Wanshuizhiyuan		11,093		9,890		—		1,203		—		1,203
Shenyang Jingli		18,101		16,663		—		1,438		—		1,438
Haiya		8,973		5,951		—		3,022		1,178		1,844
Botang		35,005		34,556		—		449		—		449
HK Ad-icon		2,410		1,547		269		594		594		—
Wenzhou Rigao		8,359		4,759		—		3,600		2,116		1,484
Wuxi Ruizhong		4,774		3,487		716		571		571		—
Zhejiang Continental		10,665		2,460		—		8,205		8,205		—

Total	$	115,563	$	87,115	$	5,210	$	23,238	$	16,820	$	6,418

During 2011, 750,380 shares of the Company were issued to ex-owner of Kaixiang, Wuxi Ruizhong and HK Ad-icon to settle consideration payable in stock of $5,210. A gain of $4,340 was recognized to the income statement due to issuance of the Company’s shares at the market price lower than the price initially agreed at acquisition.

For subsequent changes to consideration payable, please refer to note 21.