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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934
(Amendment No. 1)*

AirMedia Group Inc.
(Name of Issuer)
Ordinary Shares
(Title of Class of Securities)
G0135J 109
(CUSIP Number)
December 31, 2008
(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

     o Rule 13d-1(b)

     o Rule 13d-1(c)

     þ Rule 13d-1(d)

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 
 

 

                     
CUSIP No.
  
G0135J 109 
       Page  2   of  6   Pages

 

           
1   NAMES OF REPORTING PERSONS
Herman Man Guo
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

  (a)   o
  (b)   o
     
3   SEC USE ONLY
   
   
     
4   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  People’s Republic of China
       
  5   SOLE VOTING POWER
     
NUMBER OF   55,490,518 ordinary shares1. Wealthy Environmental Limited may also be deemed to have sole voting power with respect to the above shares. (See Item 4)
       
SHARES 6   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   0
       
EACH 7   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   55,490,518 ordinary shares1. Wealthy Environmental Limited may also be deemed to have sole dispositive power with respect to the above shares. (See Item 4)
       
WITH: 8   SHARED DISPOSITIVE POWER
     
    0
     
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  55,490,518 ordinary shares
     
10   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
   
  o
     
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
   
  41.3%
     
12   TYPE OF REPORTING PERSON
   
  IN
     
1  
Including (i) 54,990,518 ordinary shares of the issuer held by Wealthy Environment Limited, and (ii) 500,000 ordinary shares of the issuer owned by Wealthy Environment Limited in the form of American Depositary Shares, each representing two ordinary shares of the issuer.

 

 

                     
CUSIP No.
  
G0135J 109 
       Page  3   of  6   Pages

 

           
1   NAMES OF REPORTING PERSONS
Wealthy Environment Limited
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

  (a)   o
  (b)   o
     
3   SEC USE ONLY
   
   
     
4   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  British Virgin Islands
       
  5   SOLE VOTING POWER
     
NUMBER OF   55,490,518 ordinary shares2. Herman Man Guo may also be deemed to have sole voting power with respect to the above shares. (See Item 4)
       
SHARES 6   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   0
       
EACH 7   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   55,490,518 ordinary shares2. Herman Man Guo may also be deemed to have sole dispositive power with respect to the above shares. (See Item 4).
       
WITH: 8   SHARED DISPOSITIVE POWER
     
    0
     
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  55,490,518 ordinary shares
     
10   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
   
  o
     
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
   
  41.3%
     
12   TYPE OF REPORTING PERSON
   
  CO
     
2  
Including (i) 54,990,518 ordinary shares of the issuer, and (ii) 500,000 ordinary shares of the issuer in the form of American Depositary Shares, each representing two ordinary shares of the issuer.

 

 

                     
CUSIP No.
  
G0135J 109 
       Page  4   of  6   Pages
Item 1(a). Name of Issuer:
AirMedia Group Inc.
Item 1(b). Address of Issuer’s Principal Executive Offices:
17/F, Sky Plaza
No. 46 Dongzhimenwai Street
Dongcheng District, Beijing 100027
People’s Republic of China
Item 2(a). Name of Person Filing:
Herman Man Guo
Wealthy Environment Limited
Item 2(b). Address of Principal Business Office, or if None, Residence:
Herman Man Guo
AirMedia Group Inc.
17/F, Sky Plaza
No. 46 Dongzhimenwai Street
Dongcheng District, Beijing 100027
People’s Republic of China

Wealthy Environment Limited
c/o Herman Man Guo
AirMedia Group Inc.
17/F, Sky Plaza
No. 46 Dongzhimenwai Street
Dongcheng District, Beijing 100027
People’s Republic of China
Item 2(c). Citizenship:
Herman Man Guo — People’s Republic of China
Wealthy Environment Limited — British Virgin Islands
Item 2(d). Title of Class of Securities:
Ordinary Shares
Item 2(e). CUSIP Number:
G0135J 109
Item 3. Not Applicable

 

 

                     
CUSIP No.
  
G0135J 109 
       Page  5   of  6   Pages
Item 4. Ownership:
The following information with respect to the ownership of the ordinary shares of the issuer by each of the reporting persons is provided as of December 31, 2008:
                                                 
                    Sole power     Shared power     Sole power     Shared power  
    Amount             to vote or     to vote or to     to dispose or to     to dispose or to  
    beneficially     Percent     direct the     direct the     direct the     direct the  
Reporting Person   owned     of class     vote     vote     disposition of     disposition of  
Herman Man Guo
     55,490,518       41.3 %     55,490,518       0       55,490,518       0  
 
                                                
Wealthy Environment Limited
     55,490,518       41.3 %     55,490,518       0       55,490,518       0  
Wealthy Environment Limited, a British Virgin Islands company, is the record owner of 54,990,518 ordinary shares of the issuer and the beneficial owner of 500,000 ordinary shares of the issuer in the form of American Depositary Shares, each representing two ordinary shares of the issuer. Wealthy Environment Limited is wholly owned by Mr. Herman Man Guo. Pursuant to Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), Mr. Herman Man Guo may be deemed to beneficially own all of the shares held by Wealthy Environment Limited.
Item 5. Ownership of Five Percent or Less of a Class:
Not applicable
Item 6. Ownership of More Than Five Percent on Behalf of Another Person:
Not applicable
Item 7.  Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person:
Not applicable
Item 8. Identification and Classification of Members of the Group:
Not applicable
Item 9. Notice of Dissolution of Group:
Not applicable
Item 10. Certifications:
Not applicable

 

 

 

                     
CUSIP No.
  
G0135J 109 
       Page  6   of  6   Pages
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Dated: February 10, 2009
         
Herman Man Guo  /s/ Herman Man Guo    
  Herman Man Guo   
     
Wealthy Environment Limited  By:   /s/ Herman Man Guo    
    Name:   Herman Man Guo   
    Title:   Director   

 

 

 

LIST OF EXHIBITS
     
Exhibit No.   Description
 
    
A
  Joint Filing Agreement