2021-7-2, Ulaanbaatar, Mongolia
What?
TenGerLeague Media Group (TMG) management has announced the establishment of the first public or joint-stock company in the Mongolian media industry. The Group was established due to a merger of three companies: Mongol HD TV, Promedia Network or VTV, and Unread Media.
How?
TMG will become an open company through a reverse merger (RTO) with E-Money JSC, which operates on the Mongolian Stock Exchange. It aims to enable ordinary people to own, monitor, and benefit from a media company.
Why?
Ms. Uyanga, CEO of Ard Properties, was appointed as the Chairwoman of TMG. At the same time, Mr. Bat-Erdene will work as the Group's CEO while retaining his position as the CEO of Mongol HD TV, and Mr. Undral will head both VTV and Unread Media.
In defining the mission of the TMG, they said that the establishment of a public company in the media sector would ensure financial transparency, ultimately create an independent media with a unified editorial policy, and use the latest technology to create the best content.
Who said what?
The process of transforming the TMG into a public company is led by Ard Securities and its Chairman, Mr. Ganhuyag. He said that "I am glad that TenGerLeague will build a new standard in the media industry through the principle of Stronger Together, and through it to make a positive difference in our society. Ard is working to help the TMG become a public company and sell its shares to the public."
What are the next steps?
VTV is scheduled to relaunch in the third quarter of 2021 with a complete overhaul of its appearance, content policy and content.
Mongol HD, on the other hand, is working on the ORI Studios to bring the content industry up to international standards, and to launch a comprehensive hub in 2022 that brings together all types of content creators as well as relevant stakeholders.
