Bosowa eyes majority stake in Bloomberg TV Indonesia

DetailsRebecca Hawkes | 31 December 2014

Indonesian conglomerate Bosowa Corporation is planning to take a 55% stake in Bloomberg TV Indonesia to expand its influence in the media industry.

"We can't provide details of the acquisition value yet but we will announce it in the near future," Erwin Aksa, CEO, Bosowa told the Jakarta Post, adding that internal funds would be used to finance the purchase.

Bloomberg TV Indonesia, operated by holding company PT Idea Karya Indonesia, is currently owned by Sandiaga S Uno, Rosan Roeslani, and the TV station's CEO, Aditya Chandra Wardhana.

The US channel started operating in Indonesia in 2013, broadcasting business news with 80% of content localised for Indonesian viewers. Bosowa, meanwhile, currently runs local TV station Celebes TV, among its ten business units and 43 subsidiaries.