mm2’s stake to be acquired by StarHub for SGD18 million1 min read

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mm2 Asia Ltd (mm2 Asia), producer of movies, television and online content, is set to be the key to info-communications company StarHub’s plan in further expanding the latter’s pay TV offerings.”Taking a stake in mm2 is a strategic move. It unlocks opportunities to expand our pay TV offerings through original content creation that will set us apart in the cluttered content space,” said StarHub CEO Mr Tan Tong Hai in a press statement.

The agreement was signed yesterday, 22 March, and the acquisition of a stake in mm2 Asia is expected to be completed in May 2016. StarHub will be acquiring 9.05% of mm2 Asia’s stake for S$18,040,000. “We’re honoured to have StarHub as one of our shareholders. For many years, mm2 has been working closely with StarHub across many areas. This equity participation by StarHub in mm2 cements our working relationship and is a significant endorsement for our company,” said mm2 Asia CEO Mr Melvin Ang.

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via: InSing

Image Credit: mm2 Entertainment