Telikom PNG acquires local TV station EMTV
Telikom PNG Ltd has acquired local TV station EMTV through its parent company Media Niugini, according to the Post Courier (February 6, 2015), at the cost of more than K27 million and making the broadcaster 100% nationally owned.
Media Niugini was previously owned by FijiTV who purchased the station from Australia’s Channel 9 in 2005 for K4.1 million.
EMTV reports that the official signing of the sale and purchase agreement took place early yesterday morning at Suva between Telikom PNG and FijiTV Ltd. However, the sale is still subject to regulatory approval.
Whilst the sale is still subject to regulatory approval in Fiji and PNG and subject to an “Extra Ordinary General Meeting of Fiji Television Limited”, to be held in March, Fijian Holdings Limited Group CEO, Nouzab Fareed, said both the buyer, Telikom PNG, and the seller in Fiji Television, had agreed on the sale.
Telikom PNG CEO, Michael Donnelly, said the station’s biggest attraction is the convergence possibilities the acquisition offers. He said the trend customers were looking at is toward ICT, communications and content into a single package.
The acquisition of EMTV now adds to the growing portfolio of media subsidiaries already owned by the national telecommunications provider including FM100 radio station and Datec which was acquired last year.
Donnelly also assured the current 160 employees that their jobs were ‘secure’ and added that there are plans for the station to offer analogue and digital parallel broadcasts in the future.
Meanwhile, ETMV’s competition Digicel and ClickTV have already switched to digital broadcasting.
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[…] PNG’s acquisition of local television broadcaster EMTV through its parent company Media Niugini has been questioned by the Opposition, according to the […]