EchoStar and GVT negotiating to create JV for Pay TV in Brazil
Oct 02, 2013 (M2 EQUITYBITES via COMTEX) --
Provider of satellite operations and video delivery solutions EchoStar Corp (Nasdaq:SATS) and Vivendi (Milan:VIV.MI) announced on Tuesday the start of negotiations by EchoStar and Vivendi subsidiary GVT, an alternative telecommunications operator in Brazil, to form a joint venture for pay TV services in Brazil.
According to GVT and EchoStar, the companies aim to position their future joint venture as a leader in the fast growing Brazilian pay TV market which would also benefit from the expected higher demand driven by two key global events to be held in the country, namely FIFA World Cup in 2014 and Olympic Games in 2016.
This joint venture would be headquartered in Brazil, managed by GVT, and is expected to benefit from GVT's strong market position and state-of-the-art IP network combined with EchoStar's expertise in satellite and video technology and its Brazilian licenses.
This deal is subject to execution of definitive agreements and all corporate and governmental approvals.
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