Two of the biggest television companies, PT Media Nusantara Citra Tbk (MNCN) belonging to Hary Tanoesoedibjo and PT Surya Citra Media Tbk (SCMA) controlled by the Sariaatmadja family, are still in a dispute over the shareholding in PT Sinemart Indonesia, one of the biggest entertainment and production house companies in the country. The dispute occurred after a court decision states that the sale of shares of PT Sinemart Indonesia to SCMA’s subsidiary, which was conducted in January 2017, was not valid. What’s interesting is that the decision was made in an in absentia trial, and PT Sinemart Indonesia had no knowledge of the trial whatsoever. PT Sinemart Indonesia then filed for a verzet, or a resistance to the verdict. To subscribe please click here
