PT Beyond Media signed an agreement to acquire 95.94% stake in PT Avabanindo Perkasa from PT Mahaka Media Tbk (JKSE:ABBA) for IDR 29.1 billion on May 5, 2017. As reported, PT Beyond Media will acquire 35,291 shares of PT Avabanindo Perkasa. In a related transactions, PT Mahaka Radio Integra Tbk (JKSE:MARI) signed an agreement to acquire 20.8% stake in PT Radionet Cipta Karya from PT Mahaka Media Tbk for IDR 32.8 billion and PT Mahaka Media Tbk signed an agreement to acquire 99.98% stake in PT Gamma Investa Lestari from PT Entertainment Live Indonesia for IDR 26 billion on May 5, 2017. For the year ended December 31, 2016, PT Avabanindo Perkasa reported total revenues of IDR 20.58 billion, total assets of IDR 48.16 billion and total equity of IDR 29.72 billion. The transaction is subject to approval from the shareholders' of PT Mahaka Media Tbk. Aria Kanaka & Rekan acted as an accountant and KJPP Firman, Suryantoro, Sugeng, Suzy, Hartomo dan Rekan acted as appraiser for PT Mahaka Media Tbk.