Chinese advertising firm Focus Media (NSDQ: FMCN) is exploring a spin-off of its fast growing mobile and internet advertising units, according to TheStreet.com, citing people familiar with the company’s plans. The company’s primary business is out-of-home advertising (outdoor, elevators, etc.), but it’s been expanding in the wireless and internet arenas through acquisitions—last year, buying Chinese mobile ad firm Dotad for $30 million, and earlier this year, acquiring online ad firm Allyes for $100 million. In its latest quarter, mobile accounted for $14 million of $151.4 million in total company revenue. Full details at paidContent.

• Focus Media to Acquire Chinese Mobile Ad Firm Dotad For $30 Million