VTV streamlining by the end of the year

September 18, 2015 | 16:00

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State-run broadcaster Vietnam Television (VTV) has announced its divestment plan from three paying TV units, cable platform VTVcab, SCTV, and satellite service K+.

At VTVcab’s 20th anniversary held on September 17, VTV general director Tran Binh Minh said that the cable TV operator would be equitised at the end of the year, which means the owner VTV will attempt to offload its shares in the coming months.

Minh noted that the divestment from VTVcab would be soon followed by the equitisation of SCTV and K+.

“The move aims to boost the operative effectiveness of these pay units, which will better benefit shareholders. Concurrently, the profit gained would, in turn, help the development of VTV as a whole,” Minh said.

Minh assured that after the streamlining, VTV would only be in charge of the content broadcasted as governed by the industry’s relevant legal provisions.

VTVcab was established in September 1995 with 100 per cent owned by VTV. It is now providing cable TV services across over 60 provinces nation-wide, with 200 TV channels by far.

SCTV, jointly owned by VTV and state-run Saigon Tourist Corporation, is the first domestic cable TV operator to get approval in deploying its telecommunications network infrastructure.

The satellite TV service K+ is a joint venture by VTV and the French communications group CanalPlus at a 51:49 ratio. Due to its exclusive airing rights of a series of world football leagues, it is considered one of VTV’s most active units domestically.

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