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  "documentTitle": "Duff & Phelps | Investment Banking Pitch Book | 26 slides",
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  "authorName": "Duff & Phelps",
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      "text": "It is Duff & Phelps' understanding that the Company, AirMedia Holdings Ltd., an exempted company with limited liability incorporated under the laws of the Cayman Islands (\"Parent\"), and AirMedia Merger Co. Ltd., an exempted company with limited liability incorporated under the laws of the Cayman Islands and a wholly owned subsidiary of Parent (\"Merger Sub\"), propose to enter into an Agreement and Plan of Merger (the \"Merger Agreement\"), dated as of the date hereof, the latest draft of which Duff & Phelps has reviewed is dated September 28, 2015. Pursuant to the Merger Agreement, among other things, Merger Sub will merge with and into the Company, whereupon the separate existence of Merger Sub will cease and the Company will be the surviving company, and in connection with such merger each issued and outstanding Share (other than the Excluded Shares) will be cancelled in exchange for the right to receive US $3.00 in cash per Share without interest (the \"Per Share Merger Consideration\") and each issued and outstanding ADS (other than ADSs representing the Excluded Shares) will be cancelled in exchange for the right to receive US $6.00 in cash per ADS without interest (the \"Per ADS Merger Consideration\", and together with the Per Share Merger Consideration, the \"Merger Consideration\") (collectively, the \"Proposed Transaction\"). The terms and conditions of the Proposed Transaction are more fully set forth in the Merger Agreement.",
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      "text": "For the purposes of this presentation, \"Excluded Shares\" shall mean, collectively, (a) the Rollover Shares (as defined in the Merger Agreement), (b) Shares (including ADSs corresponding to such Shares) held by Parent, Merger Sub, the Company or any of their respective Subsidiaries (as defined in the Merger Agreement), and (c) Shares (including ADSs corresponding to such Shares) held by the Depositary (as defined in the Merger Agreement) and reserved for issuance and allocation (but not yet allocated) pursuant to the Share Incentive Plans (as defined in the Merger Agreement).",
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      "text": "Duff & Phelps was retained by the Special Committee and the Company to serve as independent financial advisor to the Special Committee (solely in its capacity as such). Specifically, Duff & Phelps has been asked to provide an opinion (the \"Opinion\") to the Special Committee as to the fairness, from a financial point of view, to (i) the holders of ordinary shares, par value US$0.001 per share, of the Company (each, a \"Share\" and collectively, the \"Shares\"), other than the Excluded Shares (as defined below), and (ii) the holders of American Depositary Shares of the Company, each representing two Shares (each, an \"ADS\" and collectively, \"ADSs\"), other than the ADSs representing the Excluded Shares, of the Merger Consideration (as defined below) to be received by such holders in the Proposed Transaction (as defined below) (without giving effect to any impact of the Proposed Transaction on any particular holder of the Shares or ADSs other than in their capacity as holders of Shares or ADSs).",
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      "text": "The Engagement",
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