Business News

EMTV Now PNG Owned

By Leanne Jorari – EM TV News

After almost a year of negotiations, paired with several road bumps along the way, Media Niugini Limited is now 100 per cent Papua New Guinean owned.

After a decade of being owned by Fiji TV Limited, State Owned Enterprise, Telikom PNG, the country’s leading telecommunications company has become the sole owner of EMTV’s parent company, Media Niugini Limited.

In a closed-door meet this morning in Suva, Fiji, the shares were transferred and the handover/takeover completed between major shareholder of Fiji TV, Fijian Holdings Limited and the SOE.

CEO of Telikom PNG, Michael Donnelly praised the MNL team for their job well done and promised to remain in the race to win the business and continue the form the company has kept throughout the years.

The acquisition of MNL, paired with the recent purchase of Radio Station, FM 100 will allow Telikom to delve into the media industry utilising the synergies between the organisations to invest in multi-dimensional platforms, ushering the entrance of the digital era in Papua New Guinea.

According to Mr. Donnelly, all parties were in agreement with the K20 million asking price with a mandatory deposit of K2 million, paid by Telikom PNG towards the end of 2015.

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