Media Prima to complete stake disposal in Ghana’s TV3N by Q3

By Azlan Abu Bakar

MEDIA Prima Bhd (MPB) (4502) expects to complete the disposal of its 90 per cent stake in TV3 Network Ltd (TV3N) in Ghana by the third quarter of this year.

Group managing director Datuk Amrin Awaluddin said it is awaiting approval from the authorities there before finalising the disposal.

“Despite the disposal of our interest in Ghana, we will continue to look for opportunities overseas,” Amrin told reporters after announcing MPB’s 2010 financial results in Petaling Jaya, Selangor, yesterday.

The group’s wholly-owned subsidiary, Gama Media International Ltd, recently entered a sale and purchase agreement to dispose of the TV3N stake to Media General Ghana Ltd for RM8.63 million.
On another issue, Amrin said MPB will continue to focus on building up its local contents to maintain its position, in terms of audience share, and increase advertising revenue.

“At the moment, our local contents stand at 60 per cent but we hope to increase it further,” he said.

He said MPB will continue to invest in quality contents for its platforms namely television, print, radio and online.

Amrin said the group has started selling locally-produced contents to neighbouring countries such as Indonesia, Brunei and Singapore, including programmes for the Asian Food Channel.

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