Media Prima primes into digital space

Media Prima annouced to Bursa Malaysia the proposed acquisition was expected to provide it with an opportunity to solidify its presence in the digital publishing business, which in turn is expected to facilitate the continued growth of the enlarged group moving forward.

PETALING JAYA: Digital media group REV Asia Bhd has proposed the disposal of its subsidiary REV Asia Holdings Sdn Bhd to Media Prima Bhd and Youth Asia Sdn Bhd for RM105mil.

Under the sale and purchase agreement, Media Prima will pay RM73.5mil for a 70% stake in Rev Asia Holdings and fork out RM31.5mil for the remaining 30% stake to Youth Asia.