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PETALING JAYA: Star Publications (M) Bhd is making its maiden venture into the television broadcast space by taking up a 51% stake in LI TV Holdings Ltd, which owns and operates Li, Life Inspired, a high-definition (HD) pan-regional lifestyle TV channel.
Star's partner in LI TV Holdings is Juita Viden International Ltd, a member of the Juita Viden Media Entertainment Group, which is the largest independent television programme distributor in Malaysia.
Juita Viden is also in TV and movie production. It has brought global franchises like Fear Factor and Deal or No Deal into Malaysia and is behind Nur Kasih, the highest rated TV drama in Malaysia.
Star will invest RM35mil for the 51% stake, while Juita Viden International will hold a 49% interest in LI TV Holdings, which is incorporated in Hong Kong. LI TV's HD lifestyle channe
l Li, Life Inspired is Asia's first HD lifestyle TV channel.
New revenue stream: Lee (left) and Foo signing the agreement as investment partners in LI TV. “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 Star executive deputy chairman Datuk Vincent Lee.
“Star's venture into LI TV 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,” he added
Said Juita Viden executive director Francis Foo: “We are happy to have Star as our partner. Our 33 years of experience and expertise in TV programming and Star's strength as a major media company with a strong print presence is an ideal partnership to make LI TV a success.”
According to a report by Media Partners Asia, the Pay TV industry in Asia will grow by 12% a year; HD TV adoption is expected to grow from 5 million households in 2009 to 23 million by 2013 in Asia-Pacific.
Source: The Star, Bernama
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