Petaling Jaya – Media Prima Berhad (MPB) is set to recover its investment in the Philippines following the proposed divestment of its entire 70 per cent equity stake in its subsidiary, MPB Primedia Inc to Mediaquest Holdings Inc. for US$16 million. In March 2008,MPB invested in Primedia, a company that had entered into a block airtime and consultancy agreement with ABC5, a national free to air television network in the Philippines as an initial seed for its proposed Media Fund. The Fund was intended to enable MPB to part invest in and manage various regional media assets that have long term value whilst at the same time minimizing the impact of the expected gestation losses from these assets on MPB’s earnings and balance sheet. However, given the global financial crisis which led to the extreme difficulty in raising private equity funds to invest together with MPB in the Fund, the Board of MPB has decided not to proceed with the establishment of the Fund.
Ad – Before Content
Related Articles
- Studio 100 International Teams With Caligari Film To Produce CGI Comedy Dougie Dolittle
- Prime Video’s Innovative Twist: Embracing the Humble ‘Lauki’ to Reveal the Launch Date of Original Series Panchayat’s Much-awaited Season 3
- LiveU Demonstrates its Efficient IP-Video Workflows for Live News and Sports at Broadcast Asia 2024
- ACE Entertainment Films Brings Next Two Films in Miranda Green Mystery Franchise to 2024 Cannes Festival
- ABP News Leads as India’s Most Viewed Hindi News Live Stream with 35.20 Million Unique Viewers
- Autentic launches YouTube channel Autentic Documentary