Malaysia’s Star Publications Takes Majority Stake in Li TV

KUALA LUMPUR: Expanding its business lines to now include television assets, Star Publications of Malaysia has invested RM35 million ($11.7 million) for a 51-percent share in the Asian channel operator LI TV Holdings.

LI TV Holdings’ current owner, Juita Viden International Limited—a member of the Juita Viden Media Entertainment Group—will hold a 49-percent equity in the newly formed joint venture. LI TV Holdings owns and operates Life Inspired (Li), an HD pan-regional lifestyle channel in Asia. The service, which features first-run and exclusive programs focused on food, home, wellness, travel and style, launched in August 2009 and expanded onto ten other platforms over two years. Its reach includes Hong Kong, Singapore, Indonesia, Malaysia and Taiwan. By next month, the channel will launch on three additional platforms in North Asia.

“The investment in LI TV Holdings is part of our strategy of diversifying into media that we currently do not have within our portfolio of media assets,” said Datuk Vincent Lee, Star’s executive deputy chairman. “Li is a new touch point for us to widen our audience reach in Malaysia and across the region, and opens up a new revenue stream.”

Anne Chan, LI TV Holdings’ general manager, commented: “HD is definitely the way forward and as the first Asian-based lifestyle channel in HD, we have first-mover advantage. The continued expansion of our channel to other Asian countries and rollout of more original productions will be further accelerated by this partnership as we enter in to a new era in the company’s strategic development.”