Chinese Linktone acquires Indonesian online news and information portal

24 July 2012 10 h 07 min Comments Off

Linktone Ltd. (NASDAQ: LTON), a provider of media and entertainment content and services in key strategic markets in Asia, today announced the acquisition of Okezone.com (www.okezone.com), a Bahasa Indonesian online portal focused on delivering breaking news, as well as entertainment, information and video content.

With a staff of over 100 reporters and editors, Okezone.com provides real-time coverage of major events. It has become Indonesia’s third most popular news and entertainment website and is growing rapidly in markets such as Malaysia, Singapore, Saudi Arabia, Japan and the United States.

Linktone acquired Okezone.com from PT Media Nusantara Citra Tbk (“MNC”), the Company’s indirect majority shareholder.

In addition, Linktone completed the incorporation of PT InnoForm in Indonesia, which will focus on media content distribution services. PT Innoform, a variable interest entity (“VIE”) controlled by a subsidiary of Linktone, will distribute a variety of media content throughout Indonesia, across all platforms including free and pay TV, online, home video and cinema. In addition, this VIE will facilitate distribution of MNC-owned content and pay TV channels to markets outside Indonesia.

Linktone also announced that its Board of Directors has approved the relocation of the Company’s principal executive offices from Shanghai, China to The Republic of Singapore. Linktone’s new principal executive offices are now located at 39 MacTaggart Road, Singapore
368084.

Mr. Hary Tanoesoedibjo, Executive Chairman and Chief Executive Officer of Linktone stated, “These recent changes to our business are in line with our efforts to transform Linktone from a China-focused provider of mobile value-added services into a multi-platform media distributor serving the entire pan-Asian region. The acquisition of Okezone.com expands our Indonesian business beyond the mobile arena, providing Linktone with an immediate online presence and another digital platform to engage Indonesian audiences. With an average of 150 million page views and 25 million unique visitors per month, Okezone.com is already a popular source of news and other content for web users in Indonesia and elsewhere in the world. I believe that we can leverage Okezone.com’s popularity to help expand our reach among both consumers and content owners, diversify our revenue base and grow our business across a wider range of end markets in Indonesia. The move of our principal executive offices from Shanghai to Singapore will allow us to better pursue growth opportunities outside China, especially in the highly populous ASEAN region. This move also enables Linktone to more effectively address the needs of our partners in other targeted countries throughout the region.”

Mr. Tanoesoedibjo concluded, “The incorporation of PT InnoForm in Indonesia is a significant milestone against our goal of making Linktone a leading regional media content distributor. InnoForm’s collaboration with the MNC group gives the Company access to a sizeable portfolio of highly rated Indonesian TV content and channels, which further enhances InnoForm’s multi-platform, multi-territory distribution strategy with multi-origin media content. Collectively, the acquisition of Okezone.com, the incorporation of PT InnoForm and the relocation of our principal executive offices represent important progress toward our goal of geographic diversification and expansion of our suite of services and products to create a more valuable offering for media producers and consumers across content platforms.”

ABOUT LINKTONE LTD.
Linktone Ltd. is a provider of rich and engaging services and content to a wide range of traditional and new media consumers and enterprises in Mainland China, Indonesia, Malaysia, Hong Kong and Singapore. Linktone focuses on media, entertainment, communication and edutainment products, which are promoted through the company’s strong nationwide distribution networks, integrated service platforms and multiple marketing sales channels, as well as through the networks of leading mobile operators in Mainland China and Indonesia.

SOURCE: Linktone (20/07/12)

Related posts:

Comments are closed

Other News

  • China (mainland) film Brilliant future expected for Chinese cinema: interview

    Brilliant future expected for Chinese cinema: interview

    Jiang Wen (R), a well-known Chinese director, walks down the red carpet with his wife Zhou Yun at the opening ceremony of the 70th Venice Film Festival in Venice, Italy, Aug 29, 2013. [Photo / Xinhua] (Xinhua, 04 Sep, 2013)Chinese films have achieved over the past few years very positive results in terms of both quantity and quality, and will drive their technology-led development, 70th Venice Film Festival president Alberto Barbera told Xinhua in a recent exclusive interview. This venerable [...]

    Read more →
  • Breaking news China (mainland) film Cloudary extends script to movie industry

    Cloudary extends script to movie industry

    (chinadaily.com.cn, 26 Aug, 2013) Cloudary Corp – an online literature platform owned by interactive media giant Shanda Group – said on Friday that it reached a film script agreement with the Chinese movie firm Seven Stars Films. Seven Stars Films, a movie production and investment firm owned by Chinese media entrepreneu r Bruno Wu, will link Cloudary’s literature with the world’s movie industry. Wu, who is married to popular TV host Yang Lan, founded Seven Star Films in 2012. The [...]

    Read more →
  • Breaking news China (mainland) film China’s movie market booms with local content

    China’s movie market booms with local content

    ( Agencies, 23 Aug, 2013) In “American Dreams in China”, Cheng Dongqing is giving a lecture in an abandoned factory in Beijing . Snow falls through the damaged roof and a power cut sends students reaching for their flashlights. The movie , about how young Chinese in the 1990s tried every means to learn English so they could study overseas, is part of a boom in domestic productions that is outpacing foreign film s at the box office in China. [...]

    Read more →
  • Breaking news China (mainland) film Fast forward with film

    Fast forward with film

    (China Daily, 23 Aug, 2013) In the past year, Chinese films have galloped ahead like a dark horse, beating Hollywood imports. It is hardly surprising that most of these domestic hits are comedies. Comedy is mostly local. When Hollywood sent scouts to recover the secret formula, many of them reported that these Chinese movies were not particularly funny. Of course not. When you translate every line into English, you have lost much of the fun, leaving only a few sight [...]

    Read more →
  • Breaking news China (mainland) Digital Mobile game firms looking abroad

    Mobile game firms looking abroad

    (China Daily, 21 Aug, 2013) Intensifying domestic competition is driving Chinese mobile game developers into overseas markets, said Google Inc, owner of the world’s most used smartphone operating system. Japan and South Korea may become “sizeable” money-spinners for developers in China in the coming years, it added. “Tapping into South Korea and Japan makes sense for Chinese developers, because both countries have a large smartphone user base and high sales volume in the mobile gaming sector,” said Ben Zhang, China [...]

    Read more →
  • Breaking news China (mainland) tv PPTV denies buyout rumors

    PPTV denies buyout rumors

    (chinadaily.com.cn, 14 Aug, 2013) Online video provider PPTV has denied rumors it will be jointly acquired by e-commerce giant Alibaba Group Holding Ltd and Hunan Satellite TV. “We have noticed related media reports. PPTV is operating independently, well, and we have nothing to announce at present,” PPTV told China Daily on Wednesday. A report from IT industry portal 36kr.com said on Wednesday that the prospective deal is almost closed, with the transaction reaching $400 million. It cited venture capital sources [...]

    Read more →
  • Breaking news China (mainland) film Film industry needs long tail to grow

    Film industry needs long tail to grow

    (China Daily, 15 Aug, 2013) The domestic film market registered record half-yearly box office returns of 10.9 billion yuan ($1.77 billion) in the first six months of this year, up 35 percent year-on-year, and there have been excited voices saying that the Chinese film industry is about to boom in the international market. However, box office success is just part of the industry’s chain, and without the further development of licensed movie merchandising, the Chinese film industry is still in [...]

    Read more →
  • Breaking news China (mainland) Digital New WeChat game becoming painfully popular

    New WeChat game becoming painfully popular

    (chinadaily.com.cn, 15 Aug, 2013) A new mobile phone game on WeChat, a social network app in China, is proving so popular that it’s causing hand injuries for many Chinese users. The game, which was recently introduced to WeChat’s 400 million subscribers, allows users to compete online with their friends in aircraft battles. Within two hours after the release of the game on Aug 5, there were more than 180 million downloads. But Zou Cheng, an orthopedic doctor at Hangzhou First [...]

    Read more →