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Consolidating its digital business, MNC Studios to take over three companies

10 March 2022 06:12

JAKARTA. PT MNC Studios International Tbk (MSIN) will acquire shares of two subsidiaries of PT Media Nusantara Citra Tbk (MNCN) and one subsidiary of PT MNC Vision Networks Tbk (IPTV) to support its digital business consolidation.

Both subsidiaries of MNCN to be taken over are PT MNC Digital Indonesia (MDI) and PT MNC Portal Indonesia (MPI). Meanwhile, one other subordinate company under IPTV to be claimed by MSIN is PT MNC OTT Network (OTT).

In regard to this acquisition plan, the management of MSIN will first ask for approval from its shareholders in a meeting scheduled for March 11, 2022. “The company intends to take strategic measures by consolidating digital assets of MNC Media through this shares acquisition of MDI and MPI from MNCN and OTT from IPTV. It is to establish the biggest digital entertainment group in Indonesia,” Ahmad Alhafiz, Corporate Secretary of MSIN, explained in detail.

The percentage of shares of MDI, MPI, and OTT to be bought by MSIN amounts to 99.99% each. The acquisition of MDI is worth IDR 1.2 trillion, MPI’s is IDR 591.66 billion, and OTT’s is IDR 801.91 billion.

After this acquisition, several digital platforms like RCTI+ and Vision+ will be under MSIN. Additionally, all six news portals under MPI will be reassigned to MSIN.

“Next, the company will try to always optimise the market opportunity and its honed experience to continue solidifying its position in the media industry in Indonesia,” Alhafiz concluded. (KR/ZH)

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