South Africa’s pay-TV sector has been dealt a blow with the closing down of Telkom Media, a subsidiary of telecommunications operator Telkom. The announcement was made on 25 March.
Telkom Media was one of four new pay-TV operators licensed by the Independent Communications Authority of South Africa in 2007 and was yet to go on air. It suffered a major setback in March last year when one of its investors pulled out.
According to an article in The Times, Telkom invested more than R7bn in Telkom Media and spent about R400m in operating expenses to help launch the company.