Singapore – MediaCorp, Singapore’s integrated media company, is acquiring a 22.66% stake in Chinese outdoor advertising firm Dahe Media Co Ltd. The proposed deal comprises vendor shares and new shares with the latter priced at HK$89million (US$11.4million), and is subjected to regulatory and shareholder approval in the following months.

The investment is expected to make MediaCorp the largest single shareholder of Dahe Media after Jiangsu Dahe International Advertising Group Co Ltd, and will allow MediaCorp to be involved at the board and executive levels. Dahe Media’s remaining shareholders are holding ‘H’ shares on the Hong Kong Stock Exchange.

The alliance is expected to provide MediaCorp’s existing clients a gateway into China by tapping on Dahe’s integrated creative and production solutions. The partners will also focus on expanding Dahe’s ‘China Express Advertising Board’, a new advertising platform that uses multimedia billboards which can be updated via wireless technology as well as transmit audio and instant text messages to audiences.

Dahe Media is the first advertising firm from China to be listed in Hong Kong, and has one of China’s largest advertising and sales networks. It has some 170,000 square metres of billboard space and serves clients including Nike, Audi, China Mobile, Shell, HSBC and Coca-Cola.

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