KUALA LUMPUR: Media Prima Bhd, Malaysia’s largest integrated media group, has announced the landmark acquisition of 100 per cent equity interest in REV Asia Holdings Sdn Bhd for RM105 million.
The acquisition, by the Group’s wholly owned subsidiary Media Prima Digital Sdn Bhd (MPD), is a major milestone in Media Prima’s strategy to focus on expansion in digital content and digital media platforms.
It will see the Group’s digital platform audience reach increasing to 10.4 million (5 million pre-acquisition), thus firmly establishing Media Prima as the largest Malaysian digital media company and third overall in Malaysia after Google (15.7 million) and Facebook (14.1 million).
Rev Asia Holdings, a subsidiary of Rev Asia Bhd, is one of Southeast Asia’s leading digital media groups. The company has a strong track record in social media and online marketing through a portfolio of well-known online consumer brands that cover a wide variety of segments including entertainment, lifestyle and social-millennial English, Malay and Chinese news.
Media Prima Group chief financial officer Mohamad Ariff Ibrahim said the acquisition is timely as the Group has embarked aggressively on digital based initiatives to reduce dependency over traditional revenue base.
“At Media Prima, we are big believers in digital content and its growth prospects for the future. The strategic acquisition of REV Asia Holdings demonstrates our firm commitment to capitalise on the growing demand for digital content amongst consumers by expanding our reach and further enhancing the Group’s competencies in digital content marketing, digital content curation and digital native marketing ads,” he said in a statement.