JAKARTA - PT MD Entertainment Tbk (FILM will branch out to television broadcast industry following the acquisition of PT Net Visi Media Tbk (NETV), the operator of NET Televisi.

The shareholders’ approval regarding this corporate action is projected to be obtained during Extraordinary General Meeting of Shareholders (EGMS) last Tuesday (8/10).

In the issued prospectus quoted Monday (7/10), FILM to acquire payables from Newton Capital Ltd, British Virgin Island (NCL) worth IDR 661.95 billion. In addition, FILM will also take over NETV’s shares owned by PT Sinergi Lintas Media (SLM) for IDR 295.16 billion, PT Indika Inti Holdiko (IIH) for IDR 33.,35 billion, and PT Teladan Investama (TI) worth IDR 65.94 billion.

Regarding said plan, this production house intends to conduct a private placement worth a total of IDR 1.65 trillion or equal to 98.71% of total equity of FILM as of April 2024. (LK/ZH)