The emblem of Ok+ is seen on its web site. Picture by VnExpress/Dat Nguyen
Nationwide broadcaster VTV will public sale for the third time its stake in an organization that owns Ok+, the premium pay TV service.
The corporate is seeking to promote 5 % of its stake within the Vietnam Satellite tv for pc Digital Tv Firm (VSTV) on March 10. It’s anticipating VND63 billion ($2.76 million) from the deal, 3.7 occasions its authentic funding.
This would be the third time in two months that VTV is looking for to promote a part of its stake. Within the final two makes an attempt, the broadcaster wished to promote 15 of its 51 % stake in VSTV. Its earlier makes an attempt didn’t discover a purchaser.
Ok+ is widespread for its leisure and sports activities content material, particularly worldwide soccer tournaments for which it has unique broadcasting rights within the nation.
VSTV was established in 2009 as a three way partnership between Vietnam Cable Tv Company (VTVcab) beneath VTV and France-based Canal+, one in all Europe’s largest premium tv service suppliers. Now, VSTV has a constitution capital of $20.1 million with 51 % held by VTV and 49 % by Canal+.
With capital limitations and more and more fiercer competitors within the pay TV market, VSTV made losses of over VND246 billion in 2019, VND265 billion in 2020 and VND194.6 billion within the first 9 months of 2021. By the top of September, it had racked up accrued losses of almost VND3.75 trillion.
VSTV stated it has needed to decrease subscription charges to compete with telecommunication companies that supply low-cost pay TV providers primarily based on their Web providers, and cross-border content material suppliers resembling Netflix, Amazon and Fb. Rampant copyright violations in Vietnam have additionally harm it, the agency stated.