Star acquires free Chinese weekly
Malaysia - Star Publications has ventured into the the free newspaper space with its recent buyout of Red Tomato, a 24-page weekly Chinese newspaper.
Group managing director and chief executive officer Ho Kay Tat the acquisition complements Star's other platforms as well as offers more information and entertainment content.
"Among others, Star Publications also currently owns StarRFM Sdn. Bhd, which caters to the Chinese market via the radio station 988fm. We also have a monthly Chinese Business magazine called Shang Hai."
According to a report in the StarBiz the acquisition is valued at RM1.49 million and will provide the media giant to an immediate opportunity to enter in the Chinese print market.
The Star Publication recently rebranded its Capital FM radio station which it acquired in May this year and holds a 51% stake in LI TV Holdings, which broadcasts Li, Life Inspired, Asia's first HD lifestyle TV channel .
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