Media Prima unit buys stake in Chinese social news portal
Media Prima Bhd’s wholly-owned unit, Media Prima Digital Sdn Bhd (MPD), via its subsidiary REV Asia Holdings Sdn Bhd, has acquired a 25% stake in Monster Scape Sdn Bhd the owner and publisher of Chinese social news portal TanTanNews.
In a statement yesterday, the media group noted REV Asia will be representing the online news portal as the exclusive advertising reselling partner as part of the deal.
Launched in 2013, TanTanNews is a Chinese language social news media and content portal that primarily focuses on the latest news and trendiest stories on entertainment, travel, fashion, and lifestyle.
TanTanNews founder Sean Teoh said the partnership will allow them to focus on their technology for building more innovative products to serve all users across MPD and TanTanNews.
REV Asia’s MD, Voon Tze Khay, said the addition of TanTanNews will allow REV Asia to scale at a rapid pace in helping potential advertisers reach out to the younger Chinese market inclined to reading news content.
MPD CEO Rafiq Razali said there is a huge demand for Chinese language content from their audiences and advertisers, adding the acquisition would solidify the group’s position as the largest local digital media company in Malaysia and help generate revenue.