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 stakeedit
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 saleedit
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]
"Icasa awards new pay-tv licences". Independent Online. Retrieved 2009-03-27.
December 01, 2023
telkom, media, company, based, south, africa, intended, first, provider, iptv, services, south, africa, typepublicindustrypay, televisionheadquarterssouth, africaproductsdirect, broadcast, satelliteservicestelevisionownerstelkom, contents, history, attempted, . 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 Telkom MediaTypePublicIndustryPay televisionHeadquartersSouth AfricaProductsDirect Broadcast SatelliteServicesTelevisionOwnersTelkom Contents 1 History 1 1 Attempted sale of Telkom stake 1 2 Winding up and sale 2 Notes 3 ReferencesHistory editSouth 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 edit 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 edit 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 edit M amp G 1 Moneyweb 1 Moneyweb 2 Mail amp Guardian 3 Independent Online 1 Mail amp Guardian 3 Mail amp Guardian 2 Bloomberg 1 The Times 1 Business Report 1 Reuters 1 BusinessDay 1 Bloomberg 2 Moneyweb 3 References edit Writing on the wall for Telkom Media BusinessDay Retrieved 2009 03 27 dead link S Africa s Telkom to close pay TV unit Reuters 2009 03 25 Retrieved 2009 03 27 Telkom Media appears to be counting its days Business Report Retrieved 2009 03 27 dead link Chinese whispers circle Telkom Media The Times Retrieved 2009 03 27 permanent dead link Telkom Is Close to Closing Telkom Media Stake Sale CEO Says Bloomberg Retrieved 2009 03 27 Telkom to Shut Media Unit After Failing to Find Buyer Bloomberg Retrieved 2009 03 27 Telkom prepares to launch into pay TV arena Mail amp Guardian Retrieved 2009 03 27 Telkom considering offer for its pay TV unit Mail amp Guardian Retrieved 2009 03 27 How Telkom killed its TV show Mail amp Guardian Retrieved 2009 03 27 What Telkom Media is planning Moneyweb Retrieved 2009 03 27 Telkom Media brings IPTV to SA Moneyweb Retrieved 2009 03 27 Someone finally buys Telkom Media Moneyweb Retrieved 2009 05 06 Icasa awards new pay tv licences Independent Online Retrieved 2009 03 27 Retrieved from https en wikipedia org w index php title Telkom Media amp oldid 1148865999, wikipedia, wiki, book, books, library,
