The HK$89 million (US$11.4 million) purchase makes MediaCorp the largest single shareholder in the firm after Jiangsu Dahe International Advertising Group.
Lucas Chow (pictured), MediaCorp CEO, said: “MediaCorp’s involvement in China has largely been in TV and radio co-productions, as well as the distribution of Channel News Asia. This investment in Dahe marks our first equity stake in a Chinese media company.”
Lucas Chow (pictured), MediaCorp CEO, said: “MediaCorp’s involvement in China has largely been in TV and radio co-productions, as well as the distribution of Channel News Asia. This investment in Dahe marks our first equity stake in a Chinese media company.”
Gan Boon Guan, Starcom Singapore CEO, said growth in the traditional media market in city-state was low.
“MediaCorp already has Today and has gone online with Mocca. Out-of-home is the next logical step.”
The partnership will allow MediaCorp clients to tap into Dahe’s creative resources in China. Dahe holds one of the largest advertising networks in China, counting Nike, Audi, HSBC and Coca-Cola as its clients. He Chaobing, Dahe CEO, said the deal was “a springboard to expand beyond China”.
