PT Visi Media Asia Tbk (IDX:VIVA) (Viva) said it has no plans to sell its majority stake in PT Intermedia Capital Tbk (IDX:MDIA), denying recent rumors that it may give up its cash cow free-to-air television station to a local rival to repay debt. "There will always be rumors. We are aware of this rumor and we believe it may be based on the fact that our group has had tremendous performance," Viva's President and Director, Anindya Novyan Bakrie said in Jakarta on June 26, 2018.

Rumors started circulating early this year that Viva planned to sell its majority stake in Intermedia to PT Elang Mahkota Teknologi Tbk (IDX:EMTK), as said by Anindya Novyan Bakrie.