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 (JKSE:ABBA) for IDR 32.8 billion on May 5, 2017. As reported, PT Mahaka Radio Integra Tbk will acquire 1.59 million shares of PT Radionet Cipta Karya. In related transactions, PT Beyond Media signed an agreement to acquire 95.94% stake in PT Avabanindo Perkasa from PT Mahaka Media Tbk for IDR 29.1 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 Radionet Cipta Karya reported total revenues of IDR 95.13 billion, total assets of IDR 128.28 billion and total equity of IDR 40.14 billion. The transaction is subject to approval from 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.