May 31, 2012

Visi Media secures US$10.80 million bank guaranteed facility

Media parent company controlled by Erick Thohir and Anindya Bakrie, PT Visi Media Asia Tbk (VIVA) has secured a US$10.80 million bank guaranteed facility on May 29 2012.
In an filing to Indonesia Stock Exchange yesterday, the issuance of bank guarantee facility has been conditions for Visi Media, PT Cakrawala Andalas Televisi (ANTV), and PT Lativi Mediakarya (TVOne) to be sub-license holder or official broadcaster of XX Edition of the FIFA World Cup Football Tournament and Certain Other Fifa Events.
Those companies entered into license agreement with Federation Internationale de Football Association (FIFA) and PT Inter Sports Marketing as licensee on March 23 2012. The appointment of VIVA, ANTV, and TVOne as official broadcaster of Media Rights World Cup 2014 is expected to be issued by FIFA soon.

Disclosure: No position at the stock mentioned above.

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