Intermedia/ANTV Weakened in Q1

Intermedia Capital (MDIA), parent company of ANTV, reported 4.3% decline in sales revenues to Rp498.1 billion in the first quarter ended March 31, 2018. Competition in the media industry, including from networked TV and social media platform might have hurt ANTV, which is controlled by Bakrie Group.

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Revisiting ANTV & Bakrie Media

PT Intermedia Capital Tbk (MDIA), immediate parent of TV station ANTV, booked net profit of Rp393 billion in January-September 2017, an increase of 33.8% from the corresponding period last year. Visi Media Asia (VIVA), holding for media business of Bakrie Group, however, reported net profit of Rp31 billion only, crashed 68% from the same period last year.

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The Fate of the Broadcasting License of 10 TV Stations

The Ministry of Communications & Informatics (Kominfo), on behalf of the Central Government, will soon decide on either to extend or not to extend the broadcasting license of RCTI, Global TV, MNC TV/TPI, TV One, ANTV, SCTV, Indosiar, Trans TV, Trans 7 & Metro TV. The broadcasting license of nine out of said ten TV stations will expire on Oct. 16, 2016—Metro TV’s license is the only one to expire on Dec. 29, 2016. An official at the Ministry told us that a routine joint meeting with the nine commissioners from the Indonesian Broadcasting License (KPI) will be held next week. Will this meeting turn into a joint meeting forum (FRB) to discuss the final say of the broadcasting license extension process? Will Kominfo and KPI agree on what to announce?

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Tax Amnesty in Action (23)

Boy Garibaldi Thohir, shareholder of Adaro Energy (ADRO) and some other companies, and his brother Erick Thohir were seen of filing applications for tax amnesty this morning. Other conglomerates, including James Riady and Sofyan Wananadi, have earlier announced their participation in the program.

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