NEW YORK, April 24, 2006 (PRIMEZONE) -- Sun New Media Inc. (OTCBB:SNMD) today announced in an SEC Form 8-K filing that the Company has engaged the public accounting firm of Grant Thornton Beijing (JV) as its independent auditor to replace Moores Rowland Mazars.
Founded in 1924, Grant Thornton is one of the six global accounting, tax and business advisory organizations. Grant Thornton Beijing was founded in 1995 as a partnership between Grant Thornton International and Beijing Fuqin CPAs Company LTD and is registered with the Public Company Oversight Accounting Board in Washington, D.C.
"Grant Thornton Beijing has the domestic and international resources to provide Sun New Media and its shareholders with highly reliable review and support," commented Frank Zhao, Sun New Media's Chief Financial Officer. "Their international capabilities and local presence should prove invaluable in supporting our company as it advances through its strategic development."
Dr. Bruno Wu, Sun New Media's Chairman, commented, "Sun New Media's growth is gaining momentum as we execute additional phases of our strategic business model. This type of growth and the magnitude of the enterprise Sun New Media is developing requires the support of insightful professionals who can add value to its development."
About New Sun Media Inc.
Sun New Media is China's leading multimedia powered marketing and channel management company. Sun New Media builds e-enabled distribution systems, transaction platforms and business communities in China's fastest growing verticals, connecting buyers and sellers with a suite of turnkey digital media, e-commerce, and information management solutions. Companies leverage Sun New Media's web-based business media communities to access vital industrial intelligence and forge trading relationships with suppliers and buyers that promote cost efficiencies and increased distribution reach.
The Sun New Media Inc. logo is available at www.primezone.com/newsroom/prs/?pkgid=2084
This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "expect," "plan," "anticipate," or similar expressions. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of Sun New Media's product and services in the marketplace, competitive factors, changes in regulatory environments, and other risks detailed in Sun New Media's periodic report filings with the Securities and Exchange Commission. In addition, there is no certainty that the transactions described above will be completed or, if completed, that the terms for such transactions may not change before completion. Nor is there any certainty that Sun New Media will be able to benefit from the described transactions in the manner currently expected. By making these forward-looking statements, Sun New Media disclaims any obligation to update these statements for revisions or changes after the date of this release.