trending Market Intelligence /marketintelligence/en/news-insights/trending/6dgxruflh7myb_lq-xg3jw2 content esgSubNav
In This List

Asia-Pacific: Foxtel-Fox Sports merger proceeds; Reliance buying Eros stake

Podcast

Next in Tech | Episode 50: InfoSec spending up, again…

Blog

Broadcast deal market recap 2021

Podcast

Next in Tech | Episode 49: Carbon reduction in cloud

Blog

Volume of Investment Research Reports on Inflation Increased in Q4 2021


Asia-Pacific: Foxtel-Fox Sports merger proceeds; Reliance buying Eros stake

S&P Global Market Intelligence provides a biweekly wrap-up of Asia-Pacific media and communications deal announcements, completions and updates from Feb. 23 to March 5.

TOP NEWS

* News Corp. and Telstra Corp. Ltd. signed definitive agreements to combine Foxtel and Fox Sports Australia Pty. Ltd. into a new company. News Corp. will own 65% of the merged entity, while Australian telco Telstra will hold the remaining 35%, according to a March 5 filing.

* Reliance Industries Ltd. agreed to buy a 5% equity stake in Eros International PLC through a subsidiary for US$15 per share, representing an 18% premium to last closing price, according to a Feb. 20 news release.

* Econet Media Ltd.-owned pay TV operator Kwesé acquired a "significant stake" in Iflix Africa, the African business of Malaysian streaming service iflix Sdn. Bhd., according to a Feb. 21 news release.

TECHNOLOGY

* India-based Wipro Ltd. said March 1 that it agreed to acquire a minority stake in Texas-based independent application security provider Denim Group Ltd. Financial terms were not disclosed.

* Microsoft Corp. agreed to purchase solar power in Singapore under a deal with solar energy system operator Sunseap Group, the companies said Feb. 28.

* TDK Corp. said Feb. 28 that it will acquire ultrasonic sensor developer Chirp Microsystems Inc. and turn the California company into a wholly owned subsidiary.

* Alibaba Group Holding Ltd. agreed to purchase shares of Chinese food delivery startup Ele.me from Baidu Inc. and other investors, Bloomberg News reported Feb. 26, citing a person familiar with the matter.

* Subsidiaries of Tencent Holdings Ltd. and JD.com Inc. will spend 886.9 million Chinese yuan for a 6% stake and 739.1 million yuan for a 5% stake, respectively, in Chinese retail chain Better Life Commercial Chain Share Co. Ltd., according to a Feb. 24 filing to the Shenzhen Stock Exchange.

* Chinese news app Toutiao purchased augmented reality-based selfie app Faceu for US$300 million, according to a Feb. 20 China Money Network report.

* Kakao Corp. said Feb. 14 that affiliate Kakao Mobility will acquire local carpooling platform Luxi to respond to the growing demand of Kakao's taxi service.

* Dalian Wanda Group Corp. Ltd. sold a 17% stake in Spanish soccer club Atlético Madrid to Quantum Pacific Group, an investment fund owned by Israeli billionaire Idan Ofer, Atlético said Feb. 14.

MEDIA AND TELECOMMUNICATIONS

* Dentsu Inc. on March 2 said its global business unit Dentsu Aegis Network Ltd. agreed to acquire a 100% stake in Polish marketing communication group Red8 Group Ltd. Terms of the deal were not disclosed.

* Shanghai United Media Group-backed Jiemian (Shanghai) Network Technology Co. Ltd. and Blue Whale Media-owned Cailian Press completed a merger via a share swap agreement at the end of 2017, China Money Network reported Feb. 28, citing an announcement.

* TV18 Broadcast Ltd. said Feb. 28 that it completed the acquisition of a 1% stake in Viacom 18 Media Pvt. Ltd. TV18 Broadcast now holds 51% of the equity share capital of Viacom 18.

* Malaysian digital branding and marketing agency Inno Mind Works Sdn. Bhd.'s Founder and Managing Director Datuk Michael Yip Chin Hwee confirmed that the company is the new owner of business weekly Focus Malaysia, Astro Awani reported Feb. 23.