mm2 Asia and the Singapore Press Holdings have partnered to jointly operate news site AsiaOne through its wholly-owned subsidiary SPH Invest. This is with mm2 and SPH Invest holding 51% and 49% equity interest respectively in AsiaOne Online – the established operating joint venture company.
This follows after both parties revealed in March that they would be establishing a joint venture company in Singapore. This is with a paid-up capital of SG$1,000,000. At the time, it was only revealed that the the new company would engage in digital editorial and video content creation under the AsiaOne brand, operating a lifestyle, entertainment and news portal.
Following the move, AsiaOne Online has also appointed Suzie Wang as its new CEO, who will also take on the role of head, digital media group at mm2. Prior to the move, she was VP of non-linear production and content distribution at Mediacorp, a company she had been with since 2004.
Through the move, both parties look to introduce more lifestyle and entertainment content to the 23-year old online news site. Chang Long Jong, mm2 group’s CEO, explained that another aim is also to create engaging digital content, especially in video-based format.
Anthony Tan, deputy CEO, SPH, added that the move will also help AsiaOne have a “broader appeal and wider reach”, coupled with the adoption of new technologies especially in the mobile reach. This is to better serve both readers and advertisers.
“Being mm2, we would also like to inject into AsiaOne our ‘mm2 DNA’ and create content that is centred upon lifestyle and entertainment. As consumers of digital content ourselves, my team and I are eager to serve the growing local and regional demand for relevant and interactive digital editorial and video content,” Chang added.
“AsiaOne was one of the first online news portals that rode on the Internet wave in the late 90s. We look forward to working with mm2 on its new phase of growth and expansion to grow its audience both locally as well as regionally,” Tan added.
“We are incredibly excited to work with SPH on building up the AsiaOne brand across Asia. mm2 has always been observing, and experimenting with different initiatives in digital content production and distribution. Our hope is to create engaging digital content, especially in video-based formats,” Chang said.
Marketing has reached out to SPH for additional details
The move also comes more than a year after AsiaOne revamped its website and content strategy to focus on social news and popular content in favour of breaking news updates. The website’s traditional red and blue colours were also replaced by a yellow coloured theme, more geared towards delivering bite-sized information, in the form of “easy-to-read” articles made for a social audience.
AsiaOne was founded in 1995 by SPH, and provides online advertising and interactive marketing opportunities to marketers. This includes banner advertising, mobile advertising, electronic direct mailing, viral marketing gateway, and sponsorships, a statement read.