Business News

Telikom PNG CEO confirms acquisition

By Neville Choi – EMTV News, Port Moresby 

TELIKOM PNG Limited Chief Executive Officer, Michael Donnelly, today confirmed that Telikom had purchased one hundred percent shares of Media Niugini Limited, from Fiji Television Limited.

In an exclusive interview with EMTV News, Mr Donnelly said it took some time to finalise the acquisition, and Telikom was now ready to move forward with its development plans.

“It’s a great announcement for us, and we thank the minister for his support in the past few days. 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, and 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,” Mr Donnelly said.

Mr Donnelly said Telikom was well aware of the kind of questions that would be asked, as to why it had decided to invest in buying MNL.

“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. 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,” Mr Donnelly said.

He said there was a lot of synergy between Telikom and MNL, in terms of infrastructure around the country, and these would be utilised to expand the reach of Media Niugini Limited’s news reporting services.

Related Article:

Minister Announces Media Niugini Limited Buy Out

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