Catcha Digital and iMedia boost stake in WeirdKaya owner to 80%

Catcha Digital Berhad’s wholly-owned subsidiary, iMedia Asia, has increased its stake in Headline Media to 80% following the exercise of a call option, acquiring an additional 50% equity for RM4 million. The move reflects Catcha Digital’s confidence in Headline Media’s strong growth and profitability, as well as its strategic push to consolidate its position in Malaysia’s digital media landscape.

Since initially acquiring a 30% stake in December 2023, Headline Media has seen its net profit after tax surge from RM139,000 in 2023 to RM897,000 in 2024, a six-fold increase in just one year. Patrick Grove, chairman of Catcha Digital, said the decision to exercise the call option “underscores our strong confidence in the quality of the business and the execution capabilities of the team” and aligns with the group’s approach of building a permanent home for leading technology and media companies in Malaysia.

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Headline Media, co-founded by Rydah Tan, Chan Jin Wen, Dylan Tan, Esther Lee, and Sarah Yeoh, operates a portfolio of digital media brands, led by WeirdKaya, one of Malaysia’s top English-language social news platforms. Its other brands include LokLokWords and EzLokal Food, collectively reaching 17 million users monthly across social platforms and websites, with a social media following of approximately 1.2 million. Rydah Tan, CEO of Headline Media, said the increased stake “is a strong vote of confidence in our team and our long-term vision, and we are excited to continue building the business together as part of a larger digital media platform.”

The acquisition forms part of Catcha Digital’s broader strategy to strengthen its digital economy footprint, following a string of seven strategic acquisitions over the past 12 months. These include Maxoom, One International Exhibition, Framemotion Studio, Theta Service Partner, Drive 2 Digital, Tastefully Malaysia, and Nexible Solutions, each aimed at expanding the group’s portfolio and driving earnings growth. Collectively, these acquisitions are projected to deliver approximately RM19.4 million in profit over the respective post-completion periods.

Since end 2024, Catcha Digital has been on an acquisition streak, with its most recent purchase being TechNave, through iMedia Asia. The deal, valued at RM6.125 million and funded via internally generated funds, gives Catcha full control of Maxoom, the company behind TechNave, a multilingual consumer tech media platform spanning English, Chinese and Malay.

Additionally, the company also bought majority stakes in digital marketing consultancy Digital Symphony, immersive and animated experiences agency Framemotion Studio, and Malaysian software as a service (SaaS) firm Nexible Solutions. 

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