Fiji Television Board has announced that Telekom PNG has decided not to go ahead with the purchase of Media Niugini Limited.
Executive Director of Fiji TV Nouzab Fareed said they decided to part ways and it is the end of that Sale and Purchase Agreement with Telekom PNG.
Fareed said as of yesterday Media Niugini Limited comes back to Fiji Television.
He said they had signed a Sale and Purchase Agreement in February this year where they had agreed to divest 100 percent stake in Media Niugini Limited for $27 million and it had a list of conditions.
He said in this case they had several conditions including regulatory approvals from both sides, other rights and a few other conditions.
Fareed said as of April they had satisfied all the conditions except the National Rugby League broadcast rights.
He said effective from yesterday, their competitors will show NRL matches in PNG live while Media Niugini Limited will show the delayed coverage.
The exclusive NRL rights is now held by Digicel's Pay TV company.
He said Fiji TV will move on as it did not receive $27 million from Telekom PNG.
He said the Fiji TV board is working very hard to find a strategic partner with the same objective.
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