The Edge Media Group (TEMG) continues to expand its media group with the latest acquisition of news site The Malaysian Insider (TMI).

The acquisition follows its purchase last year of a stake in business radio station BFM .

TEMG publisher and group chief executive officer Ho Kay Tat ( left ) in a statement today said its latest move will increase the company's presence in the digital media space.

“The website (TMI) has the second highest traffic among the pure digital local news portals in Malaysia.

“As an integrated regional media group, we are always looking for opportunities to diversify our media platforms, and we are happy to now have The Malaysian Insider as part of our portfolio,” Ho said.

TEMG owns The Edge business and investment weekly and The Edge Financial Daily and their respective websites, Personal Money magazine and news website www.fz.com .

It also owns Singapore's The Edge print weekly and website.

In a related development, TMI's chief executive officer and editor Jahabar Sadiq has welcomed TEMG's acquisition.

“We welcome TEMG as our new shareholder and we welcome their commitment to the same ethos that has made TMI a credible news portal since our inception in February, 2008,” Jahabar ( right ) said, adding he will continue to lead the editorial team.

TMI was formed in February 2008, just before the 12th general election by P'ng Hong Kwang and Sreedhar Subramaniam. However, Jahabar, Leslie Lau and his sister Joan Lau took over.

This is the second biggest development taking place at TMI within less than a year. In June last year, there was an exodus from its editorial team.

That was when Leslie and Joan left, taking with them the bulk of the editorial and management team to run The Malay Mail Online .