MPB acquires Kurnia Outdoor

• MPB buys Kurnia outdoor
• Expected to increase Group's market share of OOH to 42%
• Kurnia's current management team part of the deal
  

Malaysia - Media Prima Berhad (MPB) has acquired Malaysia's second largest outdoor advertising company Kurnia Outdoor which is expected to increase the media giant's market share of the out-of-home business by 9% to 42%.

Jupiter Outdoor Network is part of the deal.

The acquisition involves the purchase of 1,000,000 of ordinary shares in Kurnia for an aggregate purchase consideration of RM46.37 million. Under the terms of the purchase, MPB will initially acquire 80% equity stake in Kurnia, with the remaining 20% to be acquired over the next two and a half years.

Kurnia holds several exclusive outdoor advertising concessions on major expressways - Sistem Penyuraian Trafik KL Barat Sdn Bhd (SPRINT), New Pantai Expressway (NPE) and Besraya in the Klang Valley and the Jelutong Expressway in Penang - as well as  buildings and private properties in key market centres.

Kurnia's current management team has also agreed to be part of MPB Group.

MPB said it expects to derive potential synergistic benefits from collaborative marketing strategies between the outdoor segment and other media platforms within the Group.

In 2008, revenue from MPB's outdoor operations, anchored by Big Tree Outdoor, increased by more than 21% and currently contributes 13% to the Group's revenue.

_________________________________________________________________________________________

More quality Lighthouse titles 

Managing people? For HR and leadership strategy, Human Resources has it covered.

Want to get on the right side of the procurement department? 
Direct them to Procurement Asia.