MediaCorp rumoured to be seeking acquisition of KLN

Brand logo of MediaCorp

Singaporean media conglomerate MediaCorp is rumoured to be seeking the acquisition of Indonesian digital media venture KapanLagi Network.

According to industry sources, Singapore-based MediaCorp, a government-linked corporation (GLC) wholly-owned by Temasek Holdings, has signed an MoU (memorandum of understanding), committing to an acquisition of the Indonesian company KapanLagi Network (KLN).

KLN’s is the largest online media company in Indonesia, based on reach as measured by Comscore. Steve Christian, KLN’s CEO and co-founder, has so far declined to publicly comment on the veracity of the rumour.

Since November 2014, there have been several rumours regarding  KLN’s possible acquisition by MediaCorp. Bareksa, an Indonesian investment portal, reported that MediaCorp was seeking equity in KLN’s news portal, Merdeka. Reportedly, the deal also resulted in the possession of KapanLagi and Bola.net. Allegedly, the MediaCorp team had done due diligence during a visit to Merdeka’s office.

Other firms interested in acquiring stake or even a full ownership of KLN include the EMTEK Group. Apparently, the inability of EMTEK Group to meet the asking price for KLN, resulted in this deal falling through.

The issue of acquisition gained further veracity in 2014, with KLN and Channel NewsAsia (CNA), a MediaCorp subsidiary, collaborating to produce Start-UP,  a TV program, in Indonesia.

MediaCorp is currently on the course of positioning itself as the leading media conglomerate in Southeast Asia with about 250 million viewers in the region. KLN’s acquisition would further cement this position.

With KLN’s merger with the Fimela Group in 2014, KLN makes for a very attractive acquisition, given its pre-eminence in the Indonesian marketplace.

While the rumours of a MediaCorp acquisition remain unconfirmed, KLN makes for an attractive acquisition target and a strategic asset for any media conglomerate interested in establishing itself in Indonesia and the wider region.

Related Story: Singapore VC Monk’s Hill invests in Indonesian website CekAja

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.