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The U.S. isn\u2019t the only market where media companies are consolidating to offer an advertising platform to rival Facebook and Google.<\/p>\n
While AOL (which owns TechCrunch) is in the process of acquiring Yahoo<\/a>, over in Malaysia a similar consolidation\u00a0was announced this week \u2014 although not quite on\u00a0the scale of AOL-Yahoo (Oath?!<\/a>) and its $4.48 billion price tag<\/a>. Media Prima<\/a>, a Malaysia-listed firm with its hand in print, radio and TV\u00a0media, announced a deal<\/a> to acquire new media startup Rev Asia for RM105 million, or approximately $24.2 million.<\/p>\n The deal will see Rev Asia integrated into Media Prima\u2019s platform to create Malaysia\u2019s largest digital media entity. Rev Asia\u2019s addition will mean\u00a0Media Prima\u2019s total reach will rank third in Malaysia based on traffic \u2014 a total of 10.4 million monthly visitors \u2014\u00a0behind only Facebook and Google, who pull in an estimated 15.7 million and 14.1 million per month, respectively.<\/p>\n Media Prima\u2019s business\u00a0interests include\u00a0New Straits Times and two other newspapers, four mainstream radio stations, four broadcast TV channels, and out-of-home advertising networks. Rev Asia, meanwhile, is very much a digital player. It is comprised of a dozen new media sites, including user-generated content service Says.com which it merged with in 2013<\/a>. It has been listed on the Ace market of Bursa Malaysia, a more junior exchange, since 2011.<\/p>\n Media Prima group CFO\u00a0Encik Mohamad Ariff Ibrahim said the deal would\u00a0massively grow the company\u2019s presence, particularly among the 18-35 year old demographic in Malaysia.<\/p>\n \u201cThe acquisition is expected to result in the growth of revenue contributions from Media Prime\u2019s digital platform exponentially,\u201d he added.<\/p>\n For its last financial year, Rev Asia reported a RM6 million ($1.4 million) profit on total revenue of RM23.4 million ($5.4 million).<\/p>\n Three of Malaysia\u2019s most prominent tech entrepreneurs are involved with Rev Asia.\u00a0Patrick Grove started the media company through his\u00a0Catcha Group business, which retains a 57 percent share of Rev Asia and is involved in\u00a0ventures such as Iflix (recently raised $90 million<\/a>), iProperty (sold to News Corp<\/a>) and iCar Asia (listed on the Australian Stock Exchange).\u00a0500 Startups\u2019 partner Khailee Ng<\/a> and Fave CEO Joel Neoh<\/a>\u00a0founded Says.com and came aboard following the 2013 merger deal. Ng and Neoh had previously\u00a0sold\u00a0a local group-buying site to Groupon.<\/p>\n Featured Image: Garry Knight<\/a>\/Flickr<\/a> UNDER A CC BY 2.0<\/a> LICENSE (IMAGE HAS BEEN MODIFIED)<\/small><\/p>\n","protected":false},"excerpt":{"rendered":"![\"\"](\"https:\/\/tctechcrunch2011.files.wordpress.com\/2017\/05\/malaysia-flag.jpg?w=680\")
The U.S. isn’t the only market where media companies are consolidating to offer an advertising platform to rival Facebook and Google.
\nWhile AOL (which owns TechCrunch) is in the process of acquiring Yahoo, over in Malaysia a similar consolidation\u00a0was announced this week — although not quite on\u00a0the scale of AOL-Yahoo (Oath?!) and its $4.48 billion price tag. Media Prima, a… Read More<\/a><\/p>\n\n<\/img><\/a>
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