Media Prima Bhd’s indirect wholly-owned subsidiary, Rev Asia Holdings Sdn Bhd, has proposed to acquire a 52% stake in Vocket Media Sdn Bhd from Jaffa Sany Mohd Ariffin for RM2.6 million.
The media group told Bursa Malaysia on Tuesday upon completion of the proposed acquisition, Vocket will become a 52%-indirect-owned unit of Media Prima.
Vocket is primarily involved in the business news media agency as an online publisher and producer. Jaffa Sany is a director of Vocket.
The proposed acquisition will be satisfied in cash and is in line with Media Prima’s transformation plan to expand its digital business, given that Vocket owns a fast-growing social-millennial Malay digital news site in Malaysia.
It is expected to allow the group to solidify its presence in the digital publishing business, thus facilitating the group’s continued growth going forward.