Document:

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                                                                   EXHIBIT 10.24

                                    AGREEMENT

This Agreement is entered into as of October 15, 2003 by and among Shanghai
On-target Advertising Co., Ltd. (with a registered capital RMB500,000), a
company incorporated and existing under the laws of China ("ON-TARGET"), Jimmy
Wei Yu (a shareholder of On-target, with 70% shares), Shanghai Focus Media
Advertisement Co., Ltd. (a shareholder of On-target, with 30% shares), Union
Enterprise Holding Limited, a company incorporated and existing under the laws
of Hong Kong ("UNION") and Lin Shenlong.

On the principle of mutual benefits and interests, the Parties hereby agree as
follows:

1.    Union will be granted a warrant of 40% of On-target shares (such 40%
      shares to be transferred from Jimmy Wei Yu). The consideration for the
      acquisition of the shares shall be the surface value of the shares
      (RMB200,000).

2.    Transfer of the Shares

2.1  (1)   Unless pursuant to the detailed rules of the Articles of Association
           [of On-target] and the provisions hereof, Union may not sell,
           transfer, mortgage, pledge, grant futures or other interests thereof,
           or otherwise dispose of its legal or substantive ownership to the
           On-target shares under its name.

     (2)   In this Article 2, the term "transfer" shall include, but not be
           limited to, sales or otherwise disposal of the On-target shares and
           interests thereof, and execution of any agreement with others in
           respect of the exercise of the voting rights of On-target shares
           (other than this Agreement and any supplementary agreements hereto).

2.2   The transfer of the On-target shares shall be subject to the following
      provisions:

      (1)   In case that any shareholder of On-target (the "OFFERER") wishes to
            sell, transfer or otherwise dispose of all or part of its On-target
            shares, except otherwise stipulated in Article 2.2(2), the Offerer
            shall first seek the agreement thereto of all other shareholders of
            On-target (the "REMAINING Shareholders"), giving in details the
            number of shares to be transferred (the "TRANSFERRED SHARES"), the
            name of the proposed transferee and the offered price per share (the
            "OFFERED PRICE").

      (2)   In case that the Offerer fails to obtain the agreement to the
            transfer as required under Article 2.2(1), but it obtains the
            agreement to the transfer from some of the Remaining Shareholders
            (who shall own at least 51% of On-target's issued and outstanding
            shares), then those disagreeing shareholders (the "DISAGREEING
            SHAREHOLDERS") of the Remaining

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            Shareholders shall purchase the Transferred Shares from the Offerer
            at the Offered Price.

3.    Union acknowledges that Lin Shenlong is, as a shareholder of On-target,
      its only legal and beneficiary owner of shares in On-target.

4.    Lin Shenlong and Union undertake respectively to On-target to observe the
      non-competition provisions as follows:

4.1   they will not (and they also procure that their respective contacts will
      not) engage in, or be employed for, any business that competes directly or
      indirectly with that which On-target (including its controlling group or
      affiliates) is currently engaging in, by itself or for other individuals,
      companies or organizations (or any company in which they assume position
      as director, employee, shareholder, agent or consultant);

4.2   they will not (and they also procure that their respective contacts will
      not) invest in whatever form and whether directly, indirectly or through
      other entities, in any business that is related to the business of
      On-target (including its controlling group or affiliates), other than
      investment in On-target;

4.3   they will not (and they also procure that their respective contacts will
      not) solicit, request or seduce any person or company (i.e. On-target's
      client at any time, or persons or companies having business contacts with
      On-target for long) to leave their current work positions by breaking
      employment contract, either for its own benefit or the benefit of other
      persons, companies or organizations that compete directly or indirectly
      with On-target (including its controlling group or affiliates);

4.4   they will not (and they also procure that their respective contacts will
      not) seduce or try to seduce any employees, directors or administrative
      personnel of On-target (including its controlling group or affiliates) to
      leave their current work positions, either for its own benefit or the
      benefit of other persons, companies or organizations; and

4.5   in relation to any trade, business or company, they will not (and they
      also procure that their respective contacts will not) use any name that
      might or could be confused with that of On-target (including its
      controlling group or affiliates) or its products; they will also endeavor
      reasonably to procure such names not to be used by any person or company.

Agreement

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5.    Confidentiality

      Shareholders of On-target shall keep in confidence all commercial secrets,
      technical and financial information or other information of a confidential
      nature and owned by On-target and/or its controlling group, which they
      become aware of as the result of execution of this Agreement. On-target
      shall procure that its employees, consultants and agents will observe the
      above undertakings, and shall only be able to disclose such confidential
      information at the following circumstances:

      (1)   as required by governing laws;

      (2)   as required by contractual responsibilities (but with consents of
            the other Parties hereof);

      (3)   as required by governmental authorities or supervisory institutions;

      (4)   disclosure to the professional consultants, auditors or banks of
            On-target or Parties hereof;

      (5)   if the relevant information is already known to the public (not
            through default of any shareholders);

      (6)   if such information is obtained from any third parties (which are
            not in violation of any disclosure provisions);

      (7)   with the prior written consent of the other Parties.

      Unless prohibited by relevant laws or governmental authorities or
      supervisory institutions, any disclosure pursuant to (1) or (3) above
      shall be subject to prior consultation with, and notice to, the other
      Parties.

6.    As of the date hereof, Lin Shenlong shall be appointed as the managing
      director of On-target, who will also execute thereby the employment
      contract and confidentiality agreement. Each of the shareholders of
      On-target agrees that 20% of the net profits of On-target shall be used as
      bonus for the management of On-target, which will be distributed in a
      coordinated way by the managing director.

7.    Default

      If any shareholder of On-target (the "DEFAULT PARTY") violates materially
      or successively this Agreement, and it fails to make remedy, if it is
      remediable, to such default within fifteen (15) days of receipt of the
      notice for it to make remedy,

Agreement

                                       3

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      then any of the remaining non-default shareholders (including the
      shareholder issuing the remedy notice) may issue to the Default Party a
      default notice, upon receipt of which the Default Party shall be deemed as
      to have sent to On-target the transfer notice set out in Article 2.2, with
      the transfer price to be determined by the auditor of On-target (unless
      for conspicuous errors, the determination of such auditor shall be final
      and binding on the transferor and all other shareholders of On-target) and
      the costs for the auditor shall be borne by the transferor.

8.    This Agreement shall not be amended or cancelled.

9.    This Agreement shall be construed in accordance with the laws of China,
      and in case of any disputes, such disputes shall be submitted to the
      arbitration center for arbitration according to the currently effective
      arbitration rules.

10.   This Agreement shall be effective and binding on On-target and its
      successors designated by On-target's shareholders. Union shall not assign
      or transfer any of its rights or obligation hereunder to others.

IN WITNESS HEREOF, this Agreement is executed as of the date first hereinabove
mentioned.

SHANGHAI ON-TARGET ADVERTISING CO., LTD. (Corporate Seal)

Signed by: /s/ Jason Nanchun Jiang
           -----------------------------------------
Name: Jason Nanchun Jiang

JIMMY WEI YU

Signed by: /s/ Jimmy Wei Yu
           -----------------------------------------
Name: Jimmy Wei Yu

LIN SHENLONG

Signed by: /s/ Lin Shenling
           -----------------------------------------
Name: Lin Shenlong

SHANGHAI FOCUS MEDIA ADVERTISEMENT CO., LTD. (Corporate Seal)

Signed by: /s/ Jason Nanchun Jiang
           -----------------------------------------
Name: Jason Nanchun Jiang

Agreement

                                       4

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UNION ENTERPRISE HOLDING LIMITED

Signed by: /s/ Jimmy Wei Yu
           -----------------------------------------
Name: Jimmy Wei Yu

Agreement

                                       5<PAGE>

                                                                   EXHIBIT 10.25

                             ACKNOWLEDGEMENT LETTER

THIS ACKNOWLEDGEMENT LETTER (this "LETTER") is entered into as of March 28, 2005
in the People's Republic of China ("CHINA" or "PRC") by and among the following
Parties:

(1)   SHANGHAI FOCUS MEDIA ADVERTISEMENT CO., LTD., a company of limited
      liabilities incorporated under the laws of China, with its legal address
      at F, Room 1003, No.1027, Changning Road, Changning District, Shanghai
      ("ADCO");

(2)   FOCUS MEDIA TECHNOLOGY (SHANGHAI) CO., LTD., a wholly foreign invested
      company incorporated under the laws of China, with its legal address at E,
      Room 1003, No.1027, Changning Road, Changning District, Shanghai ("FOCUS
      MEDIA");

(3)   FOCUS MEDIA DIGITAL INFORMATION TECHNOLOGY (SHANGHAI) CO., LTD., a company
      of limited liabilities incorporated under the laws of China, with its
      legal address at Room A72, Floor 28, No.369, Jiangsu Road, Changning
      District, Shanghai ("TECHCO"); and

(4)   LOCAL ADVERTISING SUBSIDIARIES listed in Appendix 1 hereof (the "ADCO
      SUBSIDIARIES").

(In this Letter, AdCo, Focus Media and AdCo Subsidiaries may hereinafter be
individually or collectively referred to as the "TRANSFEROR(S)", while TechCo,
as the "TRANSFEREE"; the Transferor(s) and Transferee shall hereinafter be
referred to collectively as "PARTIES", and a "PARTY" individually.)

WHEREAS: The Transferee acquired the relevant equipment from the Transferors on
October 30, 2004.

NOW, THEREFORE, in order to specify the rights and obligations of the Parties in
respect of issue of the above equipment transfer, the Parties hereby acknowledge
as follows:

1.    The Parties hereby acknowledge that the Transferors transferred to the
      Transferee on October 30, 2004, and the Transferee acquired from the
      Transferors on October 30, 2004 (the "CLOSING DATE"), the equipment listed
      in Appendix 2 hereof (the "TRANSFERRED EQUIPMENT").

2.    The Parties hereby acknowledge that, since the Closing Date, the ownership
      and related risks of the Transferred Equipment have all been transferred
      together to the Transferee, and the Transferee has since then acquired the
      sound, legal and immaculate ownership to the Transferred Equipment.

3.    According to the Evaluation Report (document Hu Xin Ping Bao Zi [2004] No.
      0046) issued by Shanghai Xin Da Asset Evaluation Co., Ltd. dated November
      25, 2004, as of the date October 31, 2004, the book value of the
      Transferred Equipment (including fixed assets and inventory) is Renminbi
      fifty-seven million four hundred thousand eight hundred and ten point five
      seven (RMB57,400,810.57), and its evaluated value is Renminbi seventeen
      million eight hundred ninety one thousand five hundred and seventy two
      point zero four (RMB17,891,572.04). On the basis of the above

10.25

                                       1

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      evaluation result, the Parties agree and acknowledge that the transfer
      price payable by the Transferee to the Transferors for the transfer of the
      Transferred Equipment shall be Renminbi seventeen million eight hundred
      ninety one thousand five hundred and seventy two point zero four
      (RMB17,891,572.04) (the "TRANSFER PRICE") in total.

4.    The Transferors hereby acknowledge that they have already reviewed and
      understood the whole text of this Letter in all aspects, have been given
      the opportunity to seek professional legal opinion thereto, and have
      accepted the Transfer Price out of their own accord as the reasonable,
      full and appropriate consideration for the acquisition by the Transferee
      of the Transferred Equipment.

5.    The Transferors hereby acknowledge that the Transferee has already
      performed its payment obligation in respect of the Transfer Price; in
      respect of the Transferred Equipment, the Transferee has no obligation
      whatsoever to further pay any amount to the Transferors for its
      entitlement to the sound, legal and immaculate ownership to the
      Transferred Equipment.

6.    The Parties hereby acknowledge that they have already duly performed their
      respective obligations in respect of the transfer of the Transferred
      Equipment, and there is no default in existence.

7.    This Acknowledge Letter is executed in eleven (11) original copies, with
      each Party holding one (1) copy hereof.

IN WITNESS HEREOF, this Acknowledgement Letter is executed by the Parties below
at the date and the place set forth first above.

                   [the remainder of this page is left blank]

Acknowledgment Letter

                                       2

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EXECUTION PAGE

SHANGHAI FOCUS MEDIA ADVERTISEMENT CO., LTD. (Corporate Seal)

Signed by: /s/ Jason Nanchun Jiang
           --------------------------------------------------
Name: Jason Nanchun Jiang
Position: Authorized Representative

FOCUS MEDIA TECHNOLOGY (SHANGHAI) CO., LTD. (Corporate Seal)

Signed by: /s/ Jason Nanchun Jiang
           --------------------------------------------------
Name: Jason Nanchun Jiang
Position: Authorized Representative

SICHUAN FOCUS MEDIA ADVERTISING AGENCY CO., LTD. (Corporate Seal)

Signed by: /s/ Jason Nanchun Jiang
           --------------------------------------------------
Name: Jason Nanchun Jiang
Position: Authorized Representative

ZHEJIANG RUIHONG FOCUS MEDIA CULTURE COMMUNICATIONS CO., LTD. (Corporate Seal)

Signed by: /s/ Jason Nanchun Jiang
           --------------------------------------------------
Name: Jason Nanchun Jiang
Position: Authorized Representative

CHONGQING GEYANG FOCUS MEDIA CULTURE COMMUNICATIONS CO., LTD. (Corporate Seal)

Signed by: /s/ Jason Nanchun Jiang
           --------------------------------------------------
Name: Jason Nanchun Jiang
Position: Authorized Representative

CHANGSHA FOCUS MEDIA CENTURY ADVERTISING CO., LTD. (Corporate Seal)

Signed by: /s/ Du Kang
           --------------------------------------------------
Name: Du Kang
Position: Authorized Representative

QINGDAO FOCUS MEDIA ADVERTISING AGENCY CO., LTD. (Corporate Seal)

Signed by: /s/ Zhang Junyan
           --------------------------------------------------
Name: Zhang Junyan
Position: Authorized Representative

Acknowledgment Letter

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<PAGE>

DALIAN FOCUS MEDIA ADVERTISING AGENCY CO., LTD. (Corporate Seal)

Signed by: /s/ Xie Haobo
           --------------------------------------------------
Name: Xie Haobo
Position: Authorized Representative

YUNNAN FOCUS MEDIA CO., LTD. (Corporate Seal)

Signed by: /s/ Jason Nanchun Jiang
           --------------------------------------------------
Name: Jason Nanchun Jiang
Position: Authorized Representative

WUHAN GESHI FOCUS MEDIA ADVERTISING CO., LTD. (Corporate Seal)

Signed by: /s/ Jason Nanchun Jiang
           --------------------------------------------------
Name: Jason Nanchun Jiang
Position: Authorized Representative

TRANSFEREE:

FOCUS MEDIA DIGITAL INFORMATION TECHNOLOGY (SHANGHAI) CO., LTD. (Corporate Seal)

Signed by: /s/ Jason Nanchun Jiang
           --------------------------------------------------
Name: Jason Nanchun Jiang
Position: Authorized Representative

Acknowledgment Letter

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                         APPENDIX 1 - ADCO SUBSIDIARIES

<TABLE>
<CAPTION>
                        COMPANY NAME                                                    ADDRESS
--------------------------------------------------------------  ------------------------------------------------------
<S>                                                             <C>
Sichuan Focus Media Advertising Agency Co., Ltd.                1-1-6-603, No. 151 Kehua Road (N), Wuhou District, Chengdu

Zhejiang Ruihong Focus Media Culture Communications Co., Ltd.   Room 909, Building C, Hualong Century Plaza, No. 18 Hangda Road

Chongqing Geyang Focus Media Culture Communications Co., Ltd.   Room 25-3, Building A, Shidai Garden, No. 3 Qingnian Road,
                                                                Yuzhong District, Chongqing

Changsha Focus Media Century Advertising Co., Ltd.              New Century City, No. 692 Furong Road (M), Changsha

Qingdao Focus Media Advertising Agency Co., Ltd.                Room 5, Floor 12, Building 1, No. 37 Donghai Road, Shinan District,
                                                                Qingdao

Dalian Focus Media Advertising Agency Co., Ltd.                 Room 1309, Hongfu Building, No. 45 Shanghai Road, Zhongshan
                                                                District, Dalian

Yunnan Focus Media Co., Ltd.                                    Floor 17, Dade Building, Jinbi Road, Kunming

Wuhan Geshi Focus Media Advertising Co., Ltd.                   Room 1602, Building AI, Apartment Building, Wuhan Plaza, No. 688
                                                                Jiafang Avenue, Wuhan
</TABLE>

Acknowledgment Letter

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<PAGE>

                APPENDIX 2 - DETAILS OF THE TRANSFERRED EQUIPMENT

10.25

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