Tencent-backed MD Entertainment to acquire a 80% stake in Net Visi Media for $107m.

Tencent-backed MD Entertainment, a global media and entertainment company, agreed to acquire a 80% stake in Net Visi Media, an Indonesian media and entertainment company, for $107m. The company is also exploring partnerships with big Hollywood production houses as well as pursuing inorganic strategies in other countries. It also plans to distribute the movie content to other channels through TV stations and OTT platforms. It will open new revenue streams for the company, including advertising revenue.