Info Gateway closes its DTH doors -
Gateway closes its DTH doors
Africa, the infamous ‘dark Continent’ has claimed another victim. Gateway Broadcast Services, the operator of the GTV satellite service, has closed and the company will be liquidated. GTV was expanding its service Africa-wide and challenging Multichoice of Sth Africa.
An announcement late on Jan 30 said: “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 With immediate effect the service will be withdrawn.”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.”
London-based GTV, launched in June last year, used Eutelsat’s W3 satellite from 7 degrees East, and uplinked from Arqiva’s teleport at Chalfont Grove, just outside London.