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Acquisition consideration payable
12 Months Ended
Dec. 31, 2014
Text Block [Abstract]  
Acquisition consideration payable

10. Acquisition consideration payable

During the years ended December 31, 2008 and 2010, the Group acquired respective advertising businesses. These acquisitions were unrelated to each other.

 

During the years ended December 31, 2011 and 2012, the Company terminated the VIEs arrangements and ceased to consolidate the financial results of the VIEs and its subsidiaries, the Company also divested certain subsidiaries.

In July 2013, the Company entered into a settlement agreement with the ex-owners of HK Ad-Icon, who agreed to extinguish the outstanding acquisition consideration payable at $99.

The outstanding acquisition consideration payable of $464 and $464 was payable in stock as of December 31, 2014 and 2013, respectively, to Shanghai Botang Advertising Co., Ltd. (“Shanghai Botang”), one of the acquired advertising entities.