Jakarta. Entertainment company Tripar Multivision Plus, also known as MVP, and prominent media group B-Universe Media Holdings signed a Memorandum of Understanding (MoU) for a strategic partnership in Jakarta on Wednesday.

This partnership will enable MVP to expand its audience base with the support of BTV, a news and entertainment television network affiliated with B-Universe. As part of the agreement, BTV will have copyright access to air MPV's creative productions, including movies, soap operas, miniseries, and sitcom TV series.

"The partnership aims to enhance MVP's creative content distribution and contribute significantly to its gross profit, with an estimated year-on-year growth of 30 percent," a joint statement from both companies said.

The MoU was officially signed at the Multivision Tower in Kuningan, South Jakarta, in the presence of B-Universe Executive Chairman Enggartiasto Lukita and MVP Founder Raam Punjabi.

Furthermore, this collaborative partnership will involve MVP's investment in B-Universe as a free-to-air broadcaster, and MVP will also produce exclusive entertainment content for BTV.

MVP, with aspirations to become the largest entertainment company in Indonesia, has established a strong reputation as a major entertainment TV content producer since the liberalization of television networks in the 1990s.

Through its subsidiary, Platinum Sinema, MVP currently owns 11 theaters in various cities such as Solo, Magelang, Sidoarjo, Bitung, Baturaja, Palopo, Lahat, Ambon, Kolaka, Majenang, and Kebumen, with plans to open more outlets in different cities.

MVP was listed on the Indonesia Stock Exchange on May 8, under the share code RAAM.

B-Universe is a leading media group with publications including BTV, business newspaper Investor Daily, market research magazine Majalah Investor, business website Investor.id, English news website Jakarta Globe, and general news website Beritasatu.com.

Add as a preferred source on Google +