ASTRO GROUP BUYS 50% IN INDIAN ONLINE FIRM MOGAE DIGITAL FOR $5 M

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MALAYSIA-based media conglomerate Astro Group has acquired a 50% stake in Indian online firm Mogae Digital for $5 million. The joint venture has a slew of launches this year that include a social-networking portal for mobile phones, games and comics for mobiles and a local search engine.

Mogae Digital is promoted by Sandeep Goyal and Tanya Goyal, who are the Indian joint venture partners of Japanese giant Dentsu Inc, the single largest advertising agency in the world. The Goyals have three ad agencies under the Dentsu umbrella that work for advertisers such as Toyota, Honda, Canon, Raymond, Thomas Cook & FedEx.

The Astro Group is the largest integrated media conglomerate in Malaysia and operates a pay television on the DTH Platform and 12 Radio stations in Malaysia. Maxis, the telecom service provider in Malaysia, are an associate group entity. In India, the Astro Group has interests in DTH and FM Radio. Aircel, the telecom service provider in India, is also an associate of the Astro Group.

Commenting on its JV with Mogae, Raghavendra Madhav, Executive Director, Astro Group said: “Mogae Digital has the creative understanding required to speak to diverse audiences in the emerging new media space. The products that they have created are versatile & effectively engage consumers at different levels. Given Astro’s already large interest in the media space, Mogae Digital will be a good addition to our bouquet.” India is expected to get 3G services by the end of this year.

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