MediaCorp buys into web outfit

Singapore-based commercial broadcaster MediaCorp has taken a majority stake in a digital media company that owns several popular news websites in Indonesia.

MediaCorp has acquired a 52% equity stake in KapanLagi Network Group (KLN), adding to its digital properties that include over-the-top service Toggle, channelnewsasia.com and Kuala Lumpur-based gaming publisher Cubinet.

It recently hired Shane Mitchell, the CEO of an Australian app company, to grow its digital business online and on mobile.

Websites owned by KLN include news outlets kapanlagi.com and merdeka.com, while it also has sites targeting men, women, car enthusiasts and soccer fans. Its video content has been viewed more than 450 million times and its digital advertising revenues are growing, according to MediaCorp.

KLN’s management and operations will remain unchanged following the investment, MediaCorp said.

“Embracing a successful digital native business will accelerate MediaCorp’s transformation in the digital revolution,” said Shaun Seow, Mediacorp CEO.

According to digital media research firm eMarketer, Indonesia is home to the third largest Facebook mobile phone audience after the US and India, with around 33 million active daily users.