CNBC to launch channel in Indonesia

Financial news channel CNBC has struck a deal with PT Trans Media Corpora to launch a CNBC-branded channel in Indonesia.

CNBC Indonesia is to enter Southeast Asia’s largest economy later this year, and will be a Bahasa-language service.

Mark Hoffman, chairman of CNBC, said that the deal with Trans Media underpins the broadcaster’s emerging markets strategy.

“We are pleased to bring CNBC’s unique and robust content proposition to millions of Indonesians in their local language, further opening the world of international business and finance to a growing economic powerhouse,” Hoffman said.

Chairul Tanjung, founder and chairman of PT Trans Media Corpora’s parent company, CT Corp, said: “The primary objectives of the CNBC Indonesia venture are to facilitate global business conversations in Bahasa Indonesia, to educate our growing middle class, and to facilitate better information flow for decision making. This will help realise the full potential of the capital markets and businesses, accelerating the economic development of Indonesia.”

CNBC’s announced launch comes just three months after rival Bloomberg closed its Indonesian joint venture after running into financial difficulties. Bloomberg is still looking for a new local partner to revive its Indonesian ambitions, Mumbrella understands.