| x | Annual      Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of      1934 |
|---|------------------------------------------------------------------------------------------------|

|  ̈ | Transition      Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of      1934 |
|--------|----------------------------------------------------------------------------------------------------|

| Delaware                                                |   | 20-5385199                        |
|---------------------------------------------------------|--------|-----------------------------------|
|  (State      of Incorporation)                     |   | (Small      Business Issuer       |
|                                                    |   | I.R.S.      Employer I.D. Number) |
|                                                    |   |                              |
| 233      East 69th      Street, #6J, New York, New York |   | 10021                             |
| (Address      of principal executive offices)           |   |  (Zip      Code)             |

| Title of Each Class                                                                                                                                                                                                                           |   | Name of Each Exchange on Which      Registered |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------------------------------|
| Units, each consisting of one share of Common Stock, par value$.0001 per share, and one Warrant to purchase one share ofCommon      Stock |   | NYSE      Alternext US                         |
| Common      Stock, $.0001 par value per share                                                                                                                                                                                                 |   | NYSE      Alternext US                         |
| Warrants      to purchase shares of Common Stock                                                                                                                                                                                              |   | NYSE      AlternextUS                          |

| Transitional      Small Business Disclosure Format (check one):Yes       ̈  No      x |
|-----------------------------------------------------------------------------------------------------|

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EXPLANATORYNOTE

| Exhibit No. |   | Description                                                                                                           |
|------------------|--------|-----------------------------------------------------------------------------------------------------------------------|
|             |   |                                                                                                                  |
| 3.1              |   | Amended      and Restated Certificate of Incorporation.*                                                              |
|             |   |                                                                                                                  |
| 3.2              |   | By-laws.*                                                                                                             |
|             |   |                                                                                                                  |
| 4.1              |   | Specimen      Unit Certificate.*                                                                                      |
|             |   |                                                                                                                  |
| 4.2              |   | Specimen      Common Stock Certificate.*                                                                              |
|             |   |                                                                                                                  |
| 4.3              |   | Specimen      Warrant Certificate.*                                                                                   |
|             |   |                                                                                                                  |
| 4.4              |   | Form      of Unit Purchase Option granted to Representatives.*                                                        |
|             |   |                                                                                                                  |
| 4.5              |   | Form      of Warrant Agreement between Continental Stock Transfer & Trust      Company and the Registrant.*       |
|             |   |                                                                                                                  |
| 10.1             |   | Letter      Agreement among the Registrant, Jesup & Lamont Securities Corporation      and Michael E. Weksel.*    |
|             |   |                                                                                                                  |
| 10.2             |   | Letter      Agreement among the Registrant, Jesup & Lamont Securities Corporation      and Robert H. Davies.*     |
|             |   |                                                                                                                  |
| 10.3             |   | Letter      Agreement among the Registrant, Jesup & Lamont Securities Corporation      and William E. Weksel.*    |
|             |   |                                                                                                                  |
| 10.4             |   | Letter      Agreement among the Registrant, Jesup & Lamont Securities Corporation      and Robert A.Schriesheim.* |

----

| 10.5        |   | Letter      Agreement among the Registrant, Jesup & Lamont Securities Corporation      and Paul Levy.*                                                                                                                                                                                               |
|-------------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|        |   |                                                                                                                                                                                                                                                                                                     |
| 10.6        |   | Letter      Agreement among the Registrant, Jesup & Lamont Securities Corporation      and Matthew Botwin.*                                                                                                                                                                                          |
|        |   |                                                                                                                                                                                                                                                                                                     |
| 10.7        |   | Letter      Agreement among the Registrant, Jesup & Lamont Securities Corporation      and Ira Hollenberg IRA.*                                                                                                                                                                                      |
|        |   |                                                                                                                                                                                                                                                                                                     |
| 10.8        |   | Letter      Agreement among the Registrant, Jesup & Lamont Securities Corporation      and Leon Silverman Trust Fund.*                                                                                                                                                                               |
|        |   |                                                                                                                                                                                                                                                                                                     |
| 10.9        |   | Letter      Agreement among the Registrant, Jesup & Lamont Securities Corporation      and Norbert W. Strauss.*                                                                                                                                                                                      |
|        |   |                                                                                                                                                                                                                                                                                                     |
| 10.10       |   | Letter      Agreement among the Registrant, Jesup & Lamont Securities Corporation      and David Strauss.*                                                                                                                                                                                           |
|        |   |                                                                                                                                                                                                                                                                                                     |
| 10.11       |   | Letter      Agreement among the Registrant, Jesup & Lamont Securities Corporation      and Jonathan Strauss.*                                                                                                                                                                                        |
|        |   |                                                                                                                                                                                                                                                                                                     |
| 10.12       |   | Form      of Investment Management Trust Agreement between Continental Stock      Transfer & Trust Company and the Registrant.*                                                                                                                                                                      |
|        |   |                                                                                                                                                                                                                                                                                                     |
| 10.13       |   | Form      of Stock Escrow Agreement between the Registrant, Continental Stock      Transfer & Trust Company and the Initial  Stockholders.*                                                                                                                                                          |
|        |   |                                                                                                                                                                                                                                                                                                     |
| 10.14       |   | Form      of Warrant Escrow Agreement between the Registrant, Continental Stock      Transfer & Trust Company and the Warrant  Purchasers.*                                                                                                                                                          |
|        |   |                                                                                                                                                                                                                                                                                                     |
| 10.15  |   | Promissory      Note issued to each of Dr. William Weksel, Robert A. Schriesheim, Robert      H. Davies and Michael E. Weksel.*                                                                                                                                                                          |
|        |   |                                                                                                                                                                                                                                                                                                     |
| 10.16       |   | Form      of Registration Rights Agreement among the Registrant and the Initial      Stockholders.*                                                                                                                                                                                                      |
|        |   |                                                                                                                                                                                                                                                                                                     |
| 10.17       |   | Form      of Subscription Agreements among the Registrant, Graubard Miller and each      of Dr. William Weksel, Robert A. Schriesheim, Robert H. Davies, Michael E.      Weksel, Paul Levy, Ira Hollenberg IRA, Leon Silverman Trust Fund, Norbert      W. Strauss, David Strauss and Jonathan Strauss.* |
|        |   |                                                                                                                                                                                                                                                                                                     |
| 10.18       |   | Agreement      and Plan of Merger, dated as of August 13, 2008, by and among the      Registrant, China Networks Media Limited, MediaInv Ltd. and the other      persons signatory thereto (the “Merger Agreement”).**                                                                       |
|        |   |                                                                                                                                                                                                                                                                                                     |
| 31.1        |   | Certification      of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley      Act of 2002.                                                                                                                                                                                            |
|        |   |                                                                                                                                                                                                                                                                                                     |
| 31.2        |   | Certification      of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley      Act of 2002.                                                                                                                                                                                            |
|        |   |                                                                                                                                                                                                                                                                                                     |
| 32‡   |   | Certification      of Chief Executive Officer and Chief Financial Officer pursuant to Section      906 of the Sarbanes-Oxley Act of2002.                                                                                                                                                                 |

----

|   | * | Incorporated      by reference to the Registrant’s Registration Statement on Form S-1 (SEC      File No. 333-138699). |
|--------|---|-----------------------------------------------------------------------------------------------------------------------------|

|   | ** | Incorporated      by reference to the Registrant’s Current Report on Form 8-K, dated August      13, 2008. |
|--------|----|------------------------------------------------------------------------------------------------------------------|

|   | ‡ | Previously      filed. |
|--------|---------|------------------------|

----

|                      | ALYST      ACQUISITION CORP. |
|---------------------------|------------------------------|
| Dated:      April 6, 2009 |                         |   |
|                      | By:                          | /s/ Dr. William Weksel |
|                      |                         | Dr.      William Weksel |
|                      |                         | Chief      Executive Officer |
|                      |                         | (Principal      Executive Officer) |
|                      |                         |   |
| Dated:      April 6, 2009 |                         |   |
|                      | By:                          | /s/ Michael Weksel |
|                      |                         | Michael      Weksel |
|                      |                         | Chief      Operating Officer and |
|                      |                         | Chief      Financial Officer |
|                      |                         | (Principal      Financial and AccountingOfficer) |

----

| Name                       |   | Title                                                                                            |   | Date                               |
|----------------------------|--------|--------------------------------------------------------------------------------------------------|--------|------------------------------------|
|                       |   |                                                                                             |   |                               |
| /s/ Robert A. Schriesheim  |   | Chairman      of the Board                                                                       |   | April      6, 2009                 |
| Robert      A. Schriesheim |   |                                                                                             |   |                               |
|                       |   |                                                                                             |   |                               |
| /s/ Dr. William Weksel     |   | Chief      Executive Officer                                                                     |   | April      6, 2009                 |
| Dr.      William Weksel    |   | (Principal      Executive Officer) and Director                                                  |   |                               |
|                       |   |                                                                                             |   |                               |
|                       |   |                                                                                             |   |                               |
| /s/ Michael E. Weksel      |   | Chief      Operating Officer, Chief Financial Officer and Director (Principal      Financial and |   | April      6, 2009                 |
| Michael      E. Weksel     |   | Accounting      Officer)                                                                         |   |                               |
|                       |   |                                                                                             |   |                               |
|                       |   | Director                                                                                         |   | April   ,      2009 |
| Paul      Levy             |   |                                                                                             |   |                               |
|                       |   |                                                                                             |   |                               |
|                       |   |                                                                                             |   |                               |
|                       |   | Director                                                                                         |   | April   ,      2009 |
| Matthew      Botwin        |   |                                                                                             |   |                               |
|                       |   |                                                                                             |   |                               |

----

| Exhibit No. |   | Description                                                                                                                                                                                                                                                                                              |
|-------------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|        |   |                                                                                                                                                                                                                                                                                                     |
| 3.1         |   | Amended      and Restated Certificate of Incorporation.*                                                                                                                                                                                                                                                 |
| 3.2         |   | By-laws.*                                                                                                                                                                                                                                                                                                |
| 4.1         |   | Specimen      Unit Certificate.*                                                                                                                                                                                                                                                                         |
| 4.2         |   | Specimen      Common Stock Certificate.*                                                                                                                                                                                                                                                                 |
| 4.3         |   | Specimen      Warrant Certificate.*                                                                                                                                                                                                                                                                      |
| 4.4         |   | Form      of Unit Purchase Option granted to Representatives.*                                                                                                                                                                                                                                           |
| 4.5         |   | Form      of Warrant Agreement between Continental Stock Transfer & Trust      Company and the Registrant.*                                                                                                                                                                                          |
| 10.1        |   | Letter      Agreement among the Registrant, Jesup & Lamont Securities Corporation      and Michael E. Weksel.*                                                                                                                                                                                       |
| 10.2        |   | Letter      Agreement among the Registrant, Jesup & Lamont Securities Corporation      and Robert H. Davies.*                                                                                                                                                                                        |
| 10.3        |   | Letter      Agreement among the Registrant, Jesup & Lamont Securities Corporation      and William E. Weksel.*                                                                                                                                                                                       |
| 10.4        |   | Letter      Agreement among the Registrant, Jesup & Lamont Securities Corporation      and Robert A. Schriesheim.*                                                                                                                                                                                   |
| 10.5        |   | Letter      Agreement among the Registrant, Jesup & Lamont Securities Corporation      and Paul Levy.*                                                                                                                                                                                               |
| 10.6        |   | Letter      Agreement among the Registrant, Jesup & Lamont Securities Corporation      and Matthew Botwin.*                                                                                                                                                                                          |
| 10.7        |   | Letter      Agreement among the Registrant, Jesup & Lamont Securities Corporation      and Ira Hollenberg IRA.*                                                                                                                                                                                      |
| 10.8        |   | Letter      Agreement among the Registrant, Jesup & Lamont Securities Corporation      and Leon Silverman Trust Fund.*                                                                                                                                                                               |
| 10.9        |   | Letter      Agreement among the Registrant, Jesup & Lamont Securities Corporation      and Norbert W. Strauss.*                                                                                                                                                                                      |
| 10.10       |   | Letter      Agreement among the Registrant, Jesup & Lamont Securities Corporation      and David Strauss.*                                                                                                                                                                                           |
| 10.11       |   | Letter      Agreement among the Registrant, Jesup & Lamont Securities Corporation      and Jonathan Strauss.*                                                                                                                                                                                        |
| 10.12       |   | Form      of Investment Management Trust Agreement between Continental Stock      Transfer & Trust Company and the Registrant.*                                                                                                                                                                      |
| 10.13       |   | Form      of Stock Escrow Agreement between the Registrant, Continental Stock      Transfer & Trust Company and the Initial  Stockholders.*                                                                                                                                                          |
| 10.14       |   | Form      of Warrant Escrow Agreement between the Registrant, Continental Stock      Transfer & Trust Company and the Warrant  Purchasers.*                                                                                                                                                          |
| 10.16  |   | Promissory      Note issued to each of Dr. William Weksel, Robert A. Schriesheim, Robert      H. Davies and Michael E. Weksel.*                                                                                                                                                                          |
| 10.16       |   | Form      of Registration Rights Agreement among the Registrant and the Initial      Stockholders.*                                                                                                                                                                                                      |
| 10.17       |   | Form      of Subscription Agreements among the Registrant, Graubard Miller and each      of Dr. William Weksel, Robert A. Schriesheim, Robert H. Davies, Michael E.      Weksel, Paul Levy, Ira Hollenberg IRA, Leon Silverman Trust Fund, Norbert      W. Strauss, David Strauss and Jonathan Strauss.* |
| 10.18       |   | Agreement      and Plan of Merger, dated as of August 13, 2008, by and among the      Registrant, China Networks Media Limited, MediaInv Ltd. and the other      persons signatory thereto (the “Merger Agreement”).**                                                                       |
| 31.1        |   | Certification      of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley      Act of 2002.                                                                                                                                                                                            |

----

| 31.2      |   | Certification      of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley      Act of 2002.                             |
|-----------|--------|-------------------------------------------------------------------------------------------------------------------------------------------|
| 32‡ |   | Certification      of Chief Executive Officer and Chief Financial Officer pursuant to Section      906 of the Sarbanes-Oxley Act of 2002. |
|      |   |                                                                                                                                      |
| *         |   | Incorporated      by reference to the Registrant’s Registration Statement on Form S-1 (SEC      File No. 333-138699).               |
|      |   |                                                                                                                                      |
| **        |   | Incorporated      by reference to the Registrant’s Current Report on Form 8-K, dated August      13, 2008.                          |
|      |   |                                                                                                                                      |
| ‡   |   | Previously      filed.                                                                                                                    |

----