KKR-backed Emerald buys stake in YuppTV for $50 million
Global investment firm KKR-backed Emerald Media on Tuesday said it has acquired a “significant minority” stake in over-the-top (OTT) content provider YuppTV for $ 50 million. “Emerald Media, a pan-Asian platform established by leading global investment firm KKR for investing in the media and entertainment sector, has acquired a significant minority stake in YuppTV for $ 50 million,” it said in a release.
Emerald Media was established last year by KKR to invest in the fast-growing media and entertainment industries across Asia, for which the investment firm has committed up to $ 300 million from its KKR Asian Fund II. “We couldn’t ask for a stronger partner than Emerald Media. YuppTV is a content distribution platform with a strong consumer connection, and Emerald Media has global media relationships.