JAKARTA — PT Intermedia Capital Tbk. (MDIA), an issuer under the Bakrie Group, has officially addressed the recent cooling-off suspension of its shares imposed by the Indonesia Stock Exchange (IDX) on April 23, 2026. The move followed a period of significant price volatility that drew market attention.
Ahmad R. Widarmana, President Director of ANTV, explained that the temporary suspension is a standard market mechanism designed to ensure fair, orderly, and efficient trading. The intervention came after MDIA shares experienced a rapid and substantial price increase, peaking at Rp156 per share before closing at Rp144 on April 22, 2026.
Addressing shareholders, Ahmad clarified that the price fluctuations were driven by general market dynamics, including macroeconomic conditions, investor sentiment, and broader industry perceptions, rather than undisclosed corporate developments. “We emphasize that there are no undisclosed material facts or information that could have influenced these price movements,” he stated on Tuesday, April 24, 2026. He further affirmed that the company remains committed to transparency, strong corporate governance, and sustainable operational growth to deliver long-term value, while advising investors to avoid speculation-based trading decisions.
Operational Performance as a Key Driver
Despite the market volatility, MDIA highlights a positive trajectory in its core business, particularly at its flagship television station, ANTV. The network has seen a significant boost in viewership, with its TV share rising to 7.2% in April 2026, up from an average of 4.9% in the fourth quarter of 2025. This growth is largely attributed to a refined content strategy focused on female-oriented programming, a demographic that significantly influences household consumption decisions.
ANTV’s market reach extends impressively beyond Java. Currently broadcasting in 18 provinces, the network maintains a strong competitive position in non-Java markets, holding an overall second-place standing with a 10.5% TV share. Specifically, ANTV has emerged as the market leader in Bali and the Nusa Tenggara regions with a 15.9% share, and maintains a solid 11.0% share in Southern Sumatra. The network also consistently ranks among the top three broadcasters across various regions in Sumatra and Kalimantan.
Looking ahead, management remains optimistic, banking on their strategy of high-quality content and expanded viewership to drive future growth. However, the company is navigating financial headwinds; as of the third quarter of 2026, MDIA reported a net loss of Rp10.8 billion, a shift from the Rp100.6 billion profit recorded during the same period in 2024. Additionally, revenue for the third quarter of 2025 saw a minor year-on-year decline of 3.8%, totaling Rp465.3 billion compared to Rp483.5 billion in the previous year.
Disclaimer: This article is intended for informational purposes only and does not constitute financial advice or an invitation to buy or sell securities. Investment decisions are the sole responsibility of the reader. Bisnis.com is not liable for any losses or gains arising from the use of this information.
Summary
The Indonesia Stock Exchange (IDX) implemented a temporary trading suspension on PT Intermedia Capital Tbk. (MDIA) shares on April 23, 2026, due to significant price volatility. The company’s management clarified that these price fluctuations were driven by general market dynamics rather than undisclosed material information. They reiterated their commitment to corporate governance and advised investors to rely on fundamental factors rather than speculation.
Operationally, MDIA’s flagship station, ANTV, has seen a recent increase in viewership and maintains a strong competitive position in markets outside of Java. Despite this growth, the company faces financial challenges, reporting a net loss of Rp10.8 billion in the third quarter of 2026 compared to a profit in the previous year. Management remains focused on high-quality content strategies to drive long-term value amid these financial headwinds.