MediaCorp has invested in a 52% equity stake in the KLN Group, which owns several of Indonesia’s web portals including kapanlagi.com.
The partnership is also aimed at delivering experiences for consumers across the region, and creating solutions for advertisers to embark on new approaches to reach customers and prospects.
MediaCorp pioneered the broadcasting industry in Singapore but has since diversified into print, live entertainment, out-of-home and digital businesses. Its digital properties include over-the-top service Toggle, channelnewsasia.com and Kuala Lumpur-based gaming publisher Cubinet.
MediaCorp also recently reorganized its products and platforms along customer lines such as family, youth, men, women and foodies.
While KLN is best known for its popular twin engines of kapanlagi.com and merdeka.com, it also has sites targeting men, women, car enthusiasts and soccer aficionados.
The KLN Group's video content has been viewed more than 450 million times and KLN has seen revenue growth in Indonesia's rapidly increasing digital advertising spend.
Following MediaCorp’s investment, KLN’s management and operations will remain unchanged.
“Indonesia has a rapidly growing cohort of digital users and the opportunities for KLN are tremendous,”said Shaun Seow, CEO of MediaCorp.“Embracing a successful digital native business will accelerate MediaCorp’s transformation in the digital revolution."