The Astro Group of Malaysia has picked up a 50 per cent stake in Mogae Digital and will invest $ 5 million in the venture. 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 intends to be at the forefront of the content revolution that will soon unfold with the launch of 3G services in India. But our unique model, while preparing for 3G related opportunities, focuses first on the available 300 million current mobile users.” says Sandeep Goyal, chairman, Mogae Digital.
Adds Raghavendra Madhav, executive director, Astro Group, “The products created by Mogae Digital are versatile and effectively engage consumers at different levels. Given Astro's already large interest in media space, Mogae Digital will be a good addition to our bouquet.”
Mogae Digital is promoted by Sandeep Goyal and Tanya Goyal, who are the Indian joint venture partners of Japanese giant Dentsu Inc. The Goyals have three ad agencies under the Dentsu umbrella that work for leading advertisers. Sandeep Goyal is ex-Group CEO of Zee Telefilms.
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.
Source: Television Point