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Dominant, MediaCorp see profits

World Brief

Dominant radio and TV broadcaster MediaCorp reported post-tax profits of $102 million for year ended March 31.

This includes a $68 million boost from partial disposal of company’s shares in telco StarHub.

MediaCorp promised a $51 million dividend payout, and plans to distribute $202 million cash to its sole shareholder, Temasek Holdings, through a capital reduction exercise.

Company will focus on producing exportable content, plus acquisition of media infrastructure for its push into high definition TV and new media.

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