Telikom PNG Limited has today confirmed purchasing 100 percent shares of Media Niugini Limited (MNL)from Fiji Television Limited.
In an interview with EMTV News, Chief Executive Officer, Michael Donnelly confirmed the purchase adding that Telikom is now ready to move forward with its development plans.
TELIKOM PNG, CEO, Michael Donnelly said though the negotiations took a while, the business acquisition has finally come through.
“Telikom, as you know, started talking to Fiji TV earlier in the year, and we signed an initial contract which was then difficult for Fiji TV to fulfill, so we pulled back, and renegotiated. Over the last three or four months we continued to talk to Fiji TV, the owners, and just in the last month or so, we got final agreement, and the minister took it to NEC for approval, and today, he’s announced that, so we’re very happy with the work done”.
Donnelly said the purchase of the television company MNL is a good investment for Telikom.
“Media Niugini Limited is a good business. It’s got a large viewership, it’s got very good people, and good capability, particularly in broadcasting and production, and probably the premier group in the Country”
He said there is a lot synergy between Telikom and MNL in terms of infrastructure and this would be used to expand the news reach of Media Niugini Limited.
“It’s got a good business model, and it’s starting to make significant investments in a multi-dimensional platform. It already delivers its services today on the internet, television and mobile. And of course, with Telikom’s other subsidiary, FM100, we’re going to be able to take the products and services off EMTV, to that platform as well”.