Next-Gen to expand into mobile content development and distribution in China
Mainboard-listed Next-Generation Satellite Communications is expanding its business beyond satellite communications into mobile content development and distribution in China through the acquisition of a majority stake in Star Chariot, a wholly-owned subsidiary of C Media.
The latter is one of China's leading providers in mobile content delivery distribution services.
Next-Gen will acquire a 75 per cent stake in the Star Group from C Media for $27.6 million.
C Media will continue to hold the remaining 25 per cent stake.