Bangsar, 1 October 2015: Media Prima Berhad (“Media Prima” or the “Group”), Malaysia’s leading fully-integrated media investment group today entered into a conditional share purchase agreement to acquire Copyright Laureate Sdn Bhd (“CLSB”) which operates Ultra FM and Pi Mai FM radio broadcasting stations for a total cash consideration of RM20 million.
The purchase would see Media Prima owning 100 per cent stake in the two radio stations.
Media Prima Group Managing Director, Dato’ Sri Amrin Awaluddin said “The acquisition provides tremendous potential in terms of revenue growth for the Group and is in line with our business strategy of procuring strategic media assets to add to our existing portfolio. The move will also allow the Group to realise new opportunities and grow our radio advertising share to complement our leadership position in television, content production, print, out-of-home and online digital platforms.”
He added that the newly acquired radio stations are expected to derive potential synergistic benefits from collaborative sales and marketing strategies between the radio and other media platforms within the Group as well as enjoy significant cost savings through consolidation of back office and operational costs.
Media Prima currently operates three (3) radio stations, namely Hot FM, Fly Fm and One FM. The newly acquired radio stations would enable the Group to further expand its offerings to a wider segment of listeners, media buyers and advertisers hence further strengthening its position as the leading integrated media investment group in Malaysia.