(4 Feb, 2014) Jakarta – Bakrie Group-owned media company PT Visi Media Asia Tbk (VIVA) will target launch of a pay television business in the first quarter of 2014 Viva Sky will be launched.
VIVA Chairman Anindya Bakrie said the current pay-TV business offers attractive investment opportunities. Public interest in pay-TV was high.
“Pay TV will launch during Quarter 1-2014. There is a slight delay, but funding is already available. Wait for the announcement,” he said at the Epicentrum complex, Kuningan, Jakarta, on Monday (03/02/2014).
To fund its business development, the company has planned capital expenditure (Capex) of Rp 1 trillion in 2014.
The capital expenditure will also be used for purposes other than the preparation for a pay-TV launch, such as expansion of its broadcast games studio. For the studio, the company set aside Rp 400 billion.
Bakrie said the capital would be derived from a variety of sources such as bank loans and proceeds from the Initial Public Offering (IPO).
Translated from the Indonesian. Original can be found here