Independent News completes Jakarta purchase

Ireland’s Independent News & Media announced that it has completed the purchase of a 20% stake in Jakarta-based media group PT Abdi Bangsa, Dow Jones reported.

PT Abdi Bangsa continues to report strong growth, with revenues for the half year to June increasing by 24% year-on-year to Rp66 billion ($7.2 million).

PT Abdi Bangsa is the publisher of Republika, one of Indonesia's largest circulating national daily newspapers and has interests in online publishing, radio, magazine publishing and outdoor advertising.