Star Media shareholders approve sale of Cityneon stake

PETALING JAYA: Star Media Group Bhd, which has obtained shareholders’ approval to dispose of its 52.51% stake in Cityneon Holdings Ltd, will allocate more than 50% of the RM360.18mil raised as future investments to diversify and expand its primary business activities.

Star Media Group chairman Datuk Fu Ah Kiow said the disposal would allow the group to unlock value in its investment and concentrate on the expansion of its primary business.