Brand New Media sells a third of its Singaporean business to publisher for more than $6m

Australian-based video marketing specialists Brand New Media has sold a third of its Singapore operations to the nation state’s largest publisher for $6.6m.

Singapore Press Holdings took the stake through its subsidiary SPH Interactive, saying it will give its advertisers access to “world class” video content services and provide them with a “stronger holistic solution for content creation and targeted distribution across print, digital and radio”.

It will have three call options to increase its 34.7 per cent stake in BNMS “under certain circumstances”.

BNMS, which lists Citibank, NTUC Fairprice, Heath Promotion Board and the Media Development Authority as clients, is a wholly-owned subsidiary of Australia-based Brand New Media.