This investment involves SBS acquiring a portion of the preemptive rights held by MD Entertainment's largest shareholder, MD Corp Enterprises, at a discounted rate, as part of a paid-in capital increase. The deal received final approval from Indonesia's Financial Services Authority on June 25, and once the payment is completed, SBS will hold a 3.8% stake in MD Entertainment.
SBS President Bang Moon-shin stated, "This investment is part of our new growth strategy and an effort to strengthen overseas partnerships. Discussions began in earnest late last year, and after on-site due diligence this year, we finalized the deal." He added, "This allows us to establish a foothold in the Southeast Asian content market and diversify our global content partnerships."
He also noted, "Following SBS's global strategy of 'Going beyond terrestrial, going beyond Korea,' we will continue to expand various profitable overseas partnerships."
Manoj Punjabi, Chairman of MD Entertainment, commented, "SBS's strategic investment not only supports MD Entertainment's global expansion strategy but also marks an opportunity to explore cross-border collaboration potential."
Founded in 2002, MD Entertainment is Indonesia's largest media company and the first film and TV production firm to be listed on the Indonesia Stock Exchange. Its notable works include Indonesia's highest-grossing film, KKN di Desa Penari (2022, with 10.06 million viewers), and the Danur series. More recently, the company expanded into broadcasting by acquiring the terrestrial channel NET TV and rebranding it as MDTV.
With a population of 280 million and rising demand for local content alongside rapid growth in the OTT market, Indonesia is drawing attention as a strategic destination for global media companies.
(SBS Entertainment News | Kang Sun-ae)