VTV and Canal+ signing joint venture contract to bring better development opportunities for K+

The signing ceremony took place concurrently with the change of duly authorised representatives and senior personnel at K+, in a bid to facilitate K+ operation and bring better development opportunities.

The capital share in VSTV will remain unchanged, meaning VTV retains 51 per cent of the JV’s charter capital while the remaining 49 per cent is kept by Canal+.

In company with the change of capital owner, certain senior personnel in VSTV will also be changed by the two joint venture partners in conformity with new organisational structure and development period.

Accordingly, Nguyen Thanh Luong, VTV’s deputy general director will take part in representing VTV’s capital and hold the position of VSTV’s chairman and Le Chi Cong, VTV’s deputy chief of Office will become VSTV’s general director in replacement of Cao Van Liet, VSTV’s current chairman and general director who has finished his term of office.

“The change of capital owner and senior personnel of VSTV aims to innovate management and facilitate efficient operations of VSTV. However, VSTV will not change its development strategy. K+ Television will keep development of high quality pay-TV and hold the position of a leading satellite digital television operator in Vietnam,” said Luong.

Jacques du Puy, chairman of Canal+ International Development said, “It’s our pleasure that VTV becomes our direct partner in VSTV. Canal+ is willing to share with and support VSTV in partnerships, technology and development experience, ensuring that K+ will always be the leading high-quality television operator in Vietnam.”

VSTV is currently offering satellite television service nationwide with two key service packages, i.e. Access+ (70 SD channels) and Premium HD+ (74 SD channels and 12 HD channels).

Among outstanding contents and television rights of big events aired on four home-made K+ channels (K+1; K+PC; K+NS; K+PM), in 2015, VSTV will coordinate with world leading television broadcasters, further invest and develop many special entertainment programmes, satisfying increasing demands of Vietnam audience.

As scheduled, K+ will hold a press conference on December 11, 2014 in Ho Chi Minh City to announce new and attractive non-sport contents to be aired on K+ channels starting from December 15, 2014.

Being established in May 2009, Vietnam Satellite Digital Television Company Limited VSTV (K+) is initially the joint venture between the two major partners, i.e. Technical Centre of Vietnam Cable Television Corporation VCTV (under VTV) and Canal+ International Development (a subsidiary unit of Canal+ Group).

In implementation of the government’s guideline on innovating state management in enterprises and the direction of the Government Office, relevant ministries and industries, Vietnam Television ( VTV) will directly hold the capital ownership as well as rights and obligations in the VSTV joint venture as from now on.