Sunday, May 27, 2007

SCTV Buy Indosiar

One executive who knows the transaction confides that SCM group, Sariaatmadja-owned holding company of SCTV, is going to buy stakes in PT Indosiar Karya Media Tbk.

In principle, the deal has been reached, but the transaction will be made by private companies in each group. After Indosiar is acquired, SCM will make internal restructuring in Indosiar. So this is close transaction between holding company.

The synergy between SCM and Indosiar is expected to create a new TV giant that can compete with Rajawali Citra Televisi, Media Nusantara Citra, and Televisi Transformasi Indonesia-Trans7 groups.

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