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Thread: GTV Liquidates

  1. #1
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    Default GTV Liquidates


    GTV PRESS STATEMENT ON LIQUIDATION

    LONDON – 30 January 2009 - Gateway Broadcast Services announced today that its Board of Directors has unanimously approved a plan to liquidate the Company.

    The current financial and global crisis has severely interrupted the company’s ability to secure further funding for the continued operation of the business.

    The company has worked extensively with external advisors and all internal resources to investigate, evaluate and analyze strategic alternatives for the Company to further continue to operate. In determining to approve the Company's plan of Liquidation, the board and management carefully reviewed the advice and findings.

    Gateway Broadcast Services, suppliers of the GTV service to subscribers across Africa has over the last 2 years invested a total of US$200 million and created jobs and competition in the 22 markets. The economic crisis that has emerged globally over the last few months has caused excessive demands on the business.

    With immediate effect the service will be withdrawn.

    “Increased instability in global markets interrupted our ability to secure funding on an acceptable timescale and have left us no choice but to cease operations,” said a company spokesman.

    “We realise the negative impact this has had on our loyal customers, creditors and staff, all of who have believed in GTV and the revolution in pay TV it had created. We have tried every possible step to keep the company going but we are all the unfortunate victims of the current global economic crisis.”

    Thank you.

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    Default

    Quote Originally Posted by cogil View Post
    GTV PRESS STATEMENT ON LIQUIDATION

    LONDON – 30 January 2009 - Gateway Broadcast Services announced today that its Board of Directors has unanimously approved a plan to liquidate the Company.

    The current financial and global crisis has severely interrupted the company’s ability to secure further funding for the continued operation of the business.

    The company has worked extensively with external advisors and all internal resources to investigate, evaluate and analyze strategic alternatives for the Company to further continue to operate. In determining to approve the Company's plan of Liquidation, the board and management carefully reviewed the advice and findings.

    Gateway Broadcast Services, suppliers of the GTV service to subscribers across Africa has over the last 2 years invested a total of US$200 million and created jobs and competition in the 22 markets. The economic crisis that has emerged globally over the last few months has caused excessive demands on the business.

    With immediate effect the service will be withdrawn.

    “Increased instability in global markets interrupted our ability to secure funding on an acceptable timescale and have left us no choice but to cease operations,” said a company spokesman.

    “We realise the negative impact this has had on our loyal customers, creditors and staff, all of who have believed in GTV and the revolution in pay TV it had created. We have tried every possible step to keep the company going but we are all the unfortunate victims of the current global economic crisis.”

    Thank you.
    This is a disaster to Football lovers in Africa but i suspect unfair competition from its main rival. So in essence it means that Gtv has now black out and it will no longer air any programme at all. What happens to their exclusive football rights ? Can it transfer to another pay tv company ?
    The weak can never forgive. Forgiveness is the attribute of the strong.

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    Default

    Quote Originally Posted by cogil View Post
    GTV PRESS STATEMENT ON LIQUIDATION

    LONDON – 30 January 2009 - Gateway Broadcast Services announced today that its Board of Directors has unanimously approved a plan to liquidate the Company.

    The current financial and global crisis has severely interrupted the company’s ability to secure further funding for the continued operation of the business.

    The company has worked extensively with external advisors and all internal resources to investigate, evaluate and analyze strategic alternatives for the Company to further continue to operate. In determining to approve the Company's plan of Liquidation, the board and management carefully reviewed the advice and findings.

    Gateway Broadcast Services, suppliers of the GTV service to subscribers across Africa has over the last 2 years invested a total of US$200 million and created jobs and competition in the 22 markets. The economic crisis that has emerged globally over the last few months has caused excessive demands on the business.

    With immediate effect the service will be withdrawn.

    “Increased instability in global markets interrupted our ability to secure funding on an acceptable timescale and have left us no choice but to cease operations,” said a company spokesman.

    “We realise the negative impact this has had on our loyal customers, creditors and staff, all of who have believed in GTV and the revolution in pay TV it had created. We have tried every possible step to keep the company going but we are all the unfortunate victims of the current global economic crisis.”

    Thank you.
    Very unfortunate!. Why so sudden? can we share the source of information?

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    Default

    Very unfortunate indeed.

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    Quote Originally Posted by lagat View Post
    This is a disaster to Football lovers in Africa but i suspect unfair competition from its main rival. So in essence it means that Gtv has now black out and it will no longer air any programme at all. What happens to their exclusive football rights ? Can it transfer to another pay tv company ?
    Sure it can, it can't be exclusive when it's no longer paying for the EPL and has stopped broadcasting.
    If Evolution works, why so many idiots?


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    Default

    Quote Originally Posted by irdeto2engineer View Post
    Sure it can, it can't be exclusive when it's no longer paying for the EPL and has stopped broadcasting.
    well, there we are back to monopoly and high costs.

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    Quote Originally Posted by cogil View Post
    well, there we are back to monopoly and high costs.
    High costs what high costs? lol
    If Evolution works, why so many idiots?


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    Quote Originally Posted by irdeto2engineer View Post
    High costs what high costs? lol
    watching sports on gtv had a cost half that of ds tv.

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    Quote Originally Posted by cogil View Post
    watching sports on gtv had a cost half that of ds tv.
    Cheap is expensive. Gtv paid thrice what DSTV was paying to get the rights. whereas the latter had a subscriber base of 3 million customers gtv only managed 100,000 against its target of 400,000 to sustain its ops. And then blundered again by sponsoring local leagues to the tune of millions of dollars. Its is smiles all the way to the bank by DSTV.'' Dont accept anything less'' that was dstv's turf war against gtv.
    The weak can never forgive. Forgiveness is the attribute of the strong.

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    Default Half of nothing is nothing

    Quote Originally Posted by cogil View Post
    watching sports on gtv had a cost half that of ds tv.
    Well Supersports Africa have annnounced that from this Saturday the EPL returns to the Cband package.

    Great news
    If Evolution works, why so many idiots?


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    Default This is Great News

    Quote Originally Posted by irdeto2engineer View Post
    Well Supersports Africa have annnounced that from this Saturday the EPL returns to the Cband package.

    Great news
    I hope this is on Intel 7/10. This is a big milestone on live premier league shows in the African continent.
    The weak can never forgive. Forgiveness is the attribute of the strong.

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    Default Epl

    Quote Originally Posted by lagat View Post
    I hope this is on Intel 7/10. This is a big milestone on live premier league shows in the African continent.
    KU Band South Africa on Intelsat 7 still had the 80% of the EPL games.

    The return is to the Cband on Inteslat 10 Cband.
    If Evolution works, why so many idiots?


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    Default


    Quote Originally Posted by irdeto2engineer View Post
    KU Band South Africa on Intelsat 7 still had the 80% of the EPL games.

    The return is to the Cband on Inteslat 10 Cband.
    Plus mainly Eutelsat W4 Ku Band. that had only 20% of premier league
    before this.

 

 

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