Telkom Media

Last updated
Telkom Media
Type Public
Industry Pay television
HeadquartersSouth Africa
Products
ServicesTelevision
Owners Telkom

Telkom Media is a pay-TV company based in South Africa. It is intended to be the first provider of IPTV services in South Africa.

Contents

History

South African fixed-line telephone operator Telkom announced the creation of Telkom Media in August 2006, when it also applied for commercial satellite and cable-subscription broadcast licenses from the Independent Communications Authority of South Africa. [1] Shareholders in the company included Telkom, Videovision Entertainment, MSG Afrika Media and WDB Investment Holdings. [2]

In April 2007 the company said it was conducting an internal IPTV trial. [3]

The total investment in startup was to amount to R7-billion, with R3.5-billion due to be sourced from Telkom. [4]

Telkom Media received its licence in September 2007 in a process that included the award of three other new pay-TV licences. [5]

Attempted sale of Telkom stake

In March 2008 Telkom said it would reduce its funding by R2.2-billion as other investments, such as a mobile wireless network, provided a shorter period for return. [6]

In June 2008 Telkom said it intended to sell its (then 66 percent) stake in Telkom Media. By June it was said to have identified a buyer from among several interested parties [7] and in November 2008 Telkom confirmed that negotiations were at an advanced stage. [8] The interested party was rumoured to be a South African consortium funded out of China. [9]

In March 2009 the interested Chinese party was identified as the Shenzhen Media Group amid reports that negotiations had failed because Telkom sought compensation for its sunk investment in the business. [10]

Winding up and sale

In late March 2009 Telkom said it had failed to find a buyer and intended closing down the company, having written down a R430-million shareholder loan to it. [11] The total costs of the company were estimated to be R700-million. [12] A shareholder meeting to approve the shut down was due to be held before the end of April 2009. [13]

However, in early May 2009 Telkom announced that it had sold its stake to Shenzhen Media, without immediately releasing further details. [14]

Notes

  1. ↑ M&G(1)
  2. ↑ Moneyweb(1)
  3. ↑ Moneyweb(2)
  4. ↑ Mail & Guardian(3)
  5. ↑ Independent Online(1)
  6. ↑ Mail & Guardian(3)
  7. ↑ Mail&Guardian(2)
  8. ↑ Bloomberg(1)
  9. ↑ The Times(1)
  10. ↑ Business Report(1)
  11. ↑ Reuters(1)
  12. ↑ BusinessDay(1)
  13. ↑ Bloomberg(2)
  14. ↑ Moneyweb(3)

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