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Hearst invests in emerging markets streaming video provider

Published 08/07/2017, 09:03 AM
Updated 08/07/2017, 09:10 AM
© Reuters.  Hearst invests in emerging markets streaming video provider
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NEW YORK (Reuters) - U.S. media company Hearst Communications Inc led a $133 million investment in iflix, the Malaysian provider of streaming video said on Monday.

Other new investors included Singapore-based EDBI and clients of DBS private bank, iflix said in a statement. Existing shareholders Evolution Media, Sky PLC, Catcha Group, Liberty Global (NASDAQ:LBTYA), Jungle Ventures and PLDT Inc increased their investments, it added.

The investment brought the total funding raised by iflix this year to more than $220 million, iflix said.

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