StarHub has signed an agreement with mm2 Asia, a producer of content for TV and online platforms and films to acquire a stake in the company to expand its pay TV offerings. The operator is acquiring 9.05% stake in the company for $18,040,000.
mm2 Asia which has co-produced and/or distributed more than 50 films across Asia since 2008 also has presence in China, Hong Kong, Malaysia and Taiwan through its group of companies and/or strategic working partnerships.
StarHub has been partnering mm2 Asia since 2012, through successful investments in few movie series which were co-produced with mm2 Asia. The two companies are currently collaborating on a Chinese singing competition to be launched in April, presented by StarHub and produced by mm2 Asia.
Tan Tong Hai, CEO of StarHub
It unlocks opportunities to expand our pay TV offerings through original content creation that will set us apart in the cluttered content space. mm2 can also potentially extend the reach of our localised content through marketing and distribution efforts beyond Singapore shores.
Melvin Ang, CEO of mm2 Asia
Leveraging StarHub's multiple platforms, this strategic partnership would further strengthen our ability to create 360-degree content for our target audience. We're confident StarHub will play an important role in mm2’s progress to forge a greater regional presence in the media industry.
