StarHub acquires stake in mm2 Asia
March 23, 2016
StarHub is taking a 9.05 per cent stake in mm2 Asia for $18 million. The agreement between the two companies was signed on March 22nd
Headquartered in Singapore, mm2 Asia is a producer of content for TV and online platforms, and films. mm2 Asia also has a presence in China, Hong Kong, Malaysia and Taiwan through its group of companies and/or strategic working partnerships. mm2 Asia has co-produced and/or distributed more than 50 films across Asia since 2008.
Tan Tong Hai, CEO of StarHub, said: “Taking a stake in mm2 is a strategic move. It unlocks opportunities to expand our pay TV offerings through original content creation that will set us apart in the cluttered content space. mm2 can also potentially extend the reach of our localised content through marketing and distribution efforts beyond Singapore shores. In addition, we may choose to tap on mm2’s cineplex business to showcase our content, as well as gain access to top-rated concerts and artistes through UnUsUaL of which mm2 is looking to own a stake.”