Search

Search form

Logo of Phnom Penh Post newspaper Phnom Penh Post - Royal buys out One TV to focus on distribution

Royal buys out One TV to focus on distribution

One TV vice CEO Vora Ouk in 2013.
One TV vice CEO Vora Ouk in 2013. Pha Lina

Royal buys out One TV to focus on distribution

Cambodian conglomerate Royal Group has acquired the remaining shareholding of One TV from Russian-owned General Satellite Group in a move to boost the distribution of Cambodia’s niche pay for digital terrestrial television (DTT) market.

While financial details of the transaction were not disclosed, Mark Hanna, chief financial officer of the Royal Group, said yesterday that the deal was solidified last Thursday.

Established in 2012, One TV was General Satellite’s first foray into the international market that aimed to establish a footprint for TV digitalisation using in-house technologies in developing countries.

According to Hanna, the joint venture was envisioned since the start as a pilot project for General Satellite. Now, with Royal Group taking over its 49 per cent stake in the joint venture, the Russian firm will continue its plan to move into markets such as Bangladesh and Pakistan.

“[This move] is good for Royal Group because now we can pull all of the company’s initiatives together and offer more services to more people by leveraging our assets into distribution and marketing,” he said.

“We will continue with our pay TV project and will roll out new services in the coming months,” he said, adding that shareholding changes would not affect any of the company’s existing subscriptions.

Royal Group, chaired by tycoon Kith Meng, also has a heavy media presence with its television channel CTN.

Banpot Deekham, general manager of Cambodian DTV Network Ltd, a subsidiary of the Thai Shin satellite company, said he was unfazed by the news as his company caters to a different base for subscriptions.

“DTV uses a different system and we target rural areas with 42 channels across 24 provinces,” he said, adding that their current customer base reaches 300,000 households.

RECOMMENDED STORIES

  • Breaking: PM says prominent human rights NGO ‘must close’

    Prime Minister Hun Sen has instructed the Interior Ministry to investigate the Cambodian Center for Human Rights (CCHR) and potentially close it “because they follow foreigners”, appearing to link the rights group to the opposition Cambodia National Rescue Party's purported “revolution”. The CNRP - the

  • Rainsy and Sokha ‘would already be dead’: PM

    Prime Minister Hun Sen on Sunday appeared to suggest he would have assassinated opposition leaders Sam Rainsy and Kem Sokha had he known they were promising to “organise a new government” in the aftermath of the disputed 2013 national elections. In a clip from his speech

  • Massive ceremony at Angkor Wat will show ‘Cambodia not in anarchy’: PM

    Government officials, thousands of monks and Prime Minister Hun Sen himself will hold a massive prayer ceremony at Angkor Wat in early December to highlight the Kingdom’s continuing “peace, independence and political stability”, a spectacle observers said was designed to disguise the deterioration of

  • PM tells workers CNRP is to blame for any sanctions

    In a speech to workers yesterday, Prime Minister Hun Sen pinned the blame for any damage inflicted on Cambodia’s garment industry by potential economic sanctions squarely on the opposition party. “You must remember clearly that if the purchase orders are reduced, it is all