On Factor Bringing AirMedia Group (AMCN) Stock Down

NEW YORK (TheStreet) -- Shares of AirMedia Group were falling 13.6% to $6.27 on heavy trading volume Monday after the Chinese marketing services firm announced it will sell a 75% equity interest of its advertising business. AirMedia said it will sell the 75% equity interest in AM Advertising to Beijing Longde Wenchuang Fund Management for RMB 2.1 billion in cash. The consideration will be made in two installments. The first installment of RMB 800 million will be paid within 15 workings days of t...