BEIJING, Oct. 30, 2009 (Xinhua News Agency) -- VisionChina Media Inc. (NASDAQ:VISN) (VISN.NASDAQ), one of China's largest out-of-home digital television advertising netw orks on mass transportation systems, Thursday announced its financial results for the third quarter ended September 30, 2009.

Total revenues in the third quarter of 2009 remained stable at 30.8

million US dollars, unchanged from the second quarter of 2009 while g ross profit in the third quarter of 2009 was 15.4 million US dollars, representing a decrease of 6.3% from 16.4 million US dollars in the se cond quarter of 2009.

Net income attributable to VisionChina Media's shareholders in the third quarter of 2009 was 7.2 million US dollars, representing a sligh t increase of 1.6% from 7.1 million US dollars in the second quarter o f 2009.

The company's advertising network covered 18 cities as of September

30, 2009 and 19 cities as of October 1, 2009.

As of September 30, 2009, the company's advertising network include d 84,560 digital displays on buses, subway trains and platforms as wel l as other platforms, compared to 82,349 digital displays at the end o f the second quarter of 2009.

Recently, on October 15, the company announced an agreement to acqu ire Digital Media Group (DMG), a leader in China's subway mobile telev ision advertising market. The transaction will create the largest and most comprehensive mobile television advertising network in China.

The total consideration for the transaction is 160 million US dolla rs in cash and shares payable by the company to eligible shareholders of DMG in three installments over two years.

Upon closing, the combined company will operate bus networks in 19 of China's most affluent cities, including Beijing, Guangzhou and Shen zhen. The combined company will cover 22 cities and provide a strong p latform for the long-term development of the nationwide digital mobile

television industry in China.