GTV Gains Further Financing
[Satellite Today 09-03-08] Gateway Broadcast Services has secured further financing as it looks to build its satellite pay-TV business, GTV, in sub-Saharan Africa.
Gateway Broadcast Services, a subsidiary of Gateway Communications, said Sept. 2., that it had secured an additional $35 million of external funding, bringing the total capital invested into the GTV business to nearly $200 million. The platform has around 100,000 subscribers in sub-Saharan Africa.
“Following Gateway’s tremendous success in African telecommunications, we believe that the media industry and in particular pay-television represents the next great investment opportunity on the continent,” Julian McIntyre, managing director of GTV, said in a statement. “We have demonstrated our commitment to GTV with almost $200 million of investment to date and following the extraordinary success since launch, we are committed to further long-term financing.”