Indonesia’s MNC Group in talks to sell Sky Vision shares to foreign investors

Photo by MNC Group

Media giant MNC Group, controlled by Indonesian tycoon and politician Hary Tanoesoedibjo, said it is still in talks with several foreign investors who want to invest in its PT Sky Vision Network (SVN) – a new holding company for the group’s pay TV, internet protocol TV (IPTV), over the top (OTT), and broadband business.

“It is still too early to say when we are going to close the deal. But let me tell you that there are a lot of strategic investors who have approached us,” Tanoesoedibjo told DEALSTREETASIA.

Developing Sky Vision will be the main focus of MNC Group this year. The new holding firm manages PT MNC Sky Vision Tbk (MSKY), the operator of pay-TV Indovision, and PT MNC Kabel Mediacom (MKM), also known as Play Media.

Play Media, which offers a fiber-based network service, was established in January 2013. It has a total of 600,000 homepass subscribers currently and targets to have 1.5 million in three to five years. This year alone, Play Media hopes to pocket additional 50,000 – 80,000 homepass subscribers a month in its six main target cities.

“Of course that is an optimistic target. Realistically it all depends on many factors such as local permit,” said Tanoesoedibjo, without disclosing the amount of capital expenditure needed to reach the target. 

Taking momentum of the country’s first technology boom, MNC Group will also set its sights on growing the firm’s e-commerce and startup businesses.

In the past year, the group has been developing hotel booking site Mister Aladin and fashion marketplace Brand Outlet. It has also been investing in at least two startups – Singaporean dating app Paktor and Indonesian social recruitment platform KerjaDulu.

Director of MNC Group David Fernando Audy said the company will keep its eyes open for other opportunities to acquire potential startups. Alternatively, the company could also launch its own ventures.

“But for sure we want to focus on our existing investments first,” he said.

MNC Group is by far the largest and the only integrated media, broadcasting, entertainment and telecommunication group in Indonesia with operations that encompass content production, content distribution, television and radio, newspaper, magazine, tabloids, telecommunications operator, mobile content aggregator, value added services provider, and IT system integrator.

Also Read:

Indonesia’s MNC Group to consolidate pay TV, broadband biz under new holding co

SG: Dating app Paktor gets funding from Indonesia’s MNC Group

Indonesia’s social recruitment platform KerjaDulu closes $5m seed round from MNC Group

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.