FIJI Television Ltd will continue to look for another strategic partner to enhance their presence on the National Rugby League (NRL) rights in Papua New Guinea (PNG).
Fiji TV chairman Apakuki Kurusiga said they disagreed after all parties arrived at a common ground on Saturday.
The public listed company and Telekom PNG — a state-owned enterprise — agreed to part from the proposed transaction in Media Niugini Ltd.
Fiji TV signed a sale and purchase agreement with Telekom PNG to divest its 100 per cent stake in PNG-based Media Niugini Ltd with several conditions.
All the conditions were completed except for the NRL rights in PNG.
After negotiating for months, the rights were lost to competition following which both parties made a collective decision to part amicably.
“All parties gave their best to arrive at a common ground but at last, we agree to disagree,” Mr Kurusiga said.
As a board, he said their objective was to grow and sustain the shareholder value of Fiji Television Ltd, but regretted the outcome.
Source: Fiji Times Online