MediaCorp Invests in Indonesian Digital Venture

SINGAPORE: The Singaporean media conglomerate MediaCorp has picked up a 52-percent stake in KapanLagi Network (KLN), a company that owns a number of Indonesia's most popular web portals.

The deal seeks to combine MediaCorp's transmedia expertise and pan-Asian reach with KLN's leading position in Indonesia and its digital mindset. This includes devising new propositions for consumers and advertisers.

MediaCorp's digital presence includes the OTT service Toggle, plus a number of websites. In 2013 it launched digital startup incubator, Mediapreneur. KLN's lead assets are kapanlagi.com and merdeka.com.
 
Steve Christian, KLN's CEO, said, "I am tremendously excited by this breakthrough in KLN’s journey to become a leading digital media company in the region. Over the past three years, I’ve watched KLN grow from a startup to one of Indonesia’s top independent online platforms. Since the beginning, our goal has been to create truly great products that make an impact on audiences beyond our home market and I am delighted that our ambitions have led to our alliance with MediaCorp. In MediaCorp, we have a partner with powerful content and platform capabilities and a commitment to continually innovate for its customers and audiences.”
 
Shaun Seow, MediaCorp's CEO, added, "Today’s announcement further strengthens MediaCorp’s ability to capture valuable opportunities in a rapidly changing media industry. Over the past few years, we have aggressively repositioned MediaCorp to become a customer-centric company providing greater access to diversified, innovative and engaging content across multiple platforms. This required a relentless focus on our customers and audiences and significant ongoing investments in new businesses. Indonesia has a rapidly growing cohort of digital users and the opportunities for KLN are tremendous. I'm most impressed by how the company has pushed the envelope in content and delivery, and grown the business exponentially. Embracing a successful digital native business will accelerate MediaCorp’s transformation in the digital revolution. The deal also presents great synergies, riding on flourishing people and business ties between Singapore and Indonesia."