AirNet Technology Inc., formerly known as AirMedia Group Inc. announced that the Company's independent director Mr. Shichong Shan, 89, had passed away recently. Mr. Shan had served as an independent director on the Company's board of directors since July 2007, and as a member of the Audit Committee and the Compensation Committee of the Board. Mr. Wen Dong, one of the Company's independent directors, was elected to sit on the Audit Committee and the Compensation Committee.