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K + TV under new ownership

Released at: 17:38, 08/12/2014

K + TV under new ownership

Exclusive Vietnam broadcaster of major football leagues gets new majority owner.

by Thong Dat

Vietnam Television (VTV) has replaced the Vietnam Cable Television Corporation (VTVcab) to become the majority shareholder of Vietnam Satellite Digital Television (VSTV), the owner of K + Television. The former last week signed a joint venture contract with Canal + Overseas with the aim of facilitating the development of K +.

Under the deal, VTV will have 51 per cent of VSTV while the remaining 49 per cent will be held by Canal + Overseas. The deal also brings VSTV under new leadership, as Mr. Nguyen Thanh Luong, VTV's Deputy General Director, will become VSTV Chairman, while Mr. Le Chi Cong, VTV's Deputy Chief of Office, will hold the position of General Director, replacing Mr. Cao Van Liet, the current Chairman and General Director of VSTV.

"The change in owner and senior leadership at VSTV aims to innovate management and facilitate the efficient operations of VSTV but will not alter its development strategy," said Mr. Luong at the signing ceremony. K + Television, he went on, will continue with the development of high quality Pay TV and maintain its position as a leading satellite digital TV operator in Vietnam.

Mr. Jacques du Puy, Chairman of Canal + International Development, said that: "Canal + is willing to share with and support VSTV in partnerships, technology and development experience, ensuring that K + Television will always be the leading high-quality television operator in Vietnam."

Established in May 2009, VSTV was initially a joint venture between two major partners, the Technical Centre of Vietnam Cable Television Corporation (VCTV, under VTV) and Canal + International Development, a subsidiary of the Canal + Group.

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