$4B investment in Afp Entertainment by new owners – F1
The acquisition of Afp Media by investors includes a stake in the entertainment company and the management of AfP Media’s website.
It is the latest development in the $4 billion investment the company made in its website, which was launched in March 2014.
Afp Media was founded in 2015 by four former members of the entertainment industry and is based in Singapore.
It was acquired by Singapore-based MediaGeeks in 2016 for $1.6 billion.
The company is currently based in the United States, with the majority of its assets located in Singapore, Australia and New Zealand.
“Afp has had some exciting moments over the past year and we look forward to growing with the team and looking forward to bringing the Afp brand to the world,” said James O’Brien, president and chief executive officer of MediaGees, in a statement.
“We are excited to have the AfP brand back in our portfolio and we will be working with them to ensure that they have a long-term future in the industry.”
In a statement, Mr O’Connor said the new owners of AfdP will “continue to focus on growing and delivering quality content that has great appeal and appeal in Singapore and beyond”.
“The Afp team has been a cornerstone of our business and we’re excited to be able to bring it back to Singapore,” he added.
F1’s race at Singapore will be the first of three series to be held in the country, with a fourth series due to be launched next year.