Media: News Corp.acquire 20 percent stake in the Indonesia's ANTV

Rupert Murdoch's News Corp. has acquired a 20 percent stake in the Indonesian television network ANTV.

Neither News Corp.'s Hong Kong based satellite and cable operator Star TV and PT Cakrawala Andalas Televisi or ANTV would reveal the financial details regarding the agreement.

Anindya Bakrie, president director of ANTV said, "This is proof that Indonesia is a good place to invest in and speaking frankly it means that dollars are coming in."

According to Indonesian law, foreign companies can own no more than 20-percent of local media companies.