VTV to divest VTVcab, SCTV and K+

Saturday, Sep 19, 2015 09:11

VTV's general director Tran Binh Minh speaks at the ceremony to commemorate the 20th anniversary of VTVcab. — Photo vtv

HA NOI (Biz Hub) – Vietnam Television (VTV) will divest its holding in three pay TV units including Viet Nam Television Cable Corporation (VTVcab), Sai Gon Tourist Cable Television (SCTV) and K+, said Tran Binh Minh, VTV's General Director.

"VTVcab will be equitised by the end of this year, which means we will offload our stakes in this unit," Minh said, during the 20th anniversary of the VTVcab network.

"After divesting from VTVcab, as well as SCTV and K+, VTV will only take over the supervision of broadcasting content."

The divestment aims to enhance the efficiency of the pay TV units, as well as bring more benefits to shareholders. Simultaneously, the proceeds from the divestment will help the development of VTV, he added.

VTVcab, wholly owned by VTV and launched in September 20, 2005, has become the largest pay TV supplier in Viet Nam, providing services in more than 60 provinces.

Currently, VTVcab is broadcasting on 200 channels, including 50 HD channels and 20 special channels produced by VTVcab. Not only does it produce cable TV, VTVcab is also in the digital, customized and Internet TV services play.

While SCTV, a wholly state-owned joint venture between VTV and the Saigon Tourist Cooperation, was established in 1992.

At the end of last year, SCTV was the leading cable TV platform in Viet Nam, with 2.3 million cable TV subscribers, 500,000 digital TV subscribers, 300,000 internet subscribers and more than 100,000 VoIP (voice over internet protocol) subscribers.

K+, a joint venture of VTV and French communication group CanalPlus by a 51:49 ratio, is a satellite TV service. K+ currently offers more than 70 SD channels and 10 HD channels under legal licences and of all genres, including news, general entertainment, sports, music, movies, documentaries and kids.

K+ also became the exclusive broadcaster of a series of world football leagues in Viet Nam. – VNS

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