StarSat (previously known as TopTV) is still at risk, according to new owners Star Times Group. The new owners say that South Africa has been reluctant toward the pay-TV broadcaster’s new ownership.
Star Times’ chairman Xinxing Pang says that despite the formal business rescue of the pay-TV broadcasters, subscribers have been lost and the extremely lengthy business rescue has still not been finalised.
South Africa’s foreign ownership laws (for broadcasters) limit the stake China’s Star Times Group can hold to 20 percent. Consequently Star Times has been somewhat constrained in what it can do despite it owning 65 per cent of the economic interest in the broadcaster.
Source: Advanced Television website.
