ENGLEWOOD, Colo., Sept. 30, 2013 /PRNewswire/ -- Vivendi and
EchoStar Corp. (NASDAQ: SATS) announced today that EchoStar
Technologies LLC and Vivendi subsidiary GVT have entered into
negotiations to form a joint venture for pay TV services in
Brazil.
GVT and EchoStar 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: FIFA World Cup in 2014 and
Olympic Games in 2016.
The joint venture would be headquartered in Brazil, managed by GVT, and would 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. The objective is to offer a
national service based on IPTV and a unique high power satellite to
provide leading edge features, quality and reliability to
consumers.
The deal is subject to execution of definitive agreements and
all corporate and governmental approvals.
About GVT
GVT is the leading alternative
telecommunications operator in Brazil. Active in all fixed-line
telecommunications, in high-speed broadband services and in
pay-television, it fully controls its optical fiber networks, the
most modern in Brazil. GVT today
operates in 146 Brazilian cities all over the country and most
recently entered the residential market of Sao Paulo, the country's biggest city. Its pay
television services were launched in 2012, using a hybrid
technology that combines the broadcast of satellite television
channels, several of them in high definition, with interactive
services provided through its terrestrial network; more than
500,000 households have subscribed to the service to date. The
company was founded in 2000 and is a wholly-owned Vivendi
subsidiary since 2010. In 2012, GVT had revenues of euro 1.7 billion and an EBITDA of euro 740 million.
About EchoStar
EchoStar Corporation (NASDAQ: SATS) is
a premier global provider of satellite operations and video
delivery solutions. EchoStar's wholly-owned subsidiary, Hughes, is
the world's leading provider of satellite broadband services,
delivering network technologies and managed services for enterprise
and government customers in more than 100 countries.
Headquartered in Englewood, CO,
with additional business units world-wide, EchoStar is a multiple
Emmy award-winning company that has pioneered advancements in the
set-top box and satellite industries for nearly 30 years,
consistently delivering value for customers, partners and investors
through innovation and outstanding quality. EchoStar's contribution
to video technology continues to have a major influence on the way
consumers view, receive and manage TV programming.
EchoStar's consumer solutions include HughesNet®, North America's #1 high-speed satellite
Internet service, Sling Media's Slingbox® products, and EchoStar's
line of set-top box products for the free-to-air satellite and
terrestrial markets.
About Vivendi
Vivendi groups together are leaders in
content and media. Canal+ Group is the French leader in pay TV, and
also operates in French-speaking Africa, Poland and Vietnam; its subsidiary StudioCanal is a
leading European player in production, acquisition, distribution
and international film sales. Universal Music Group is the world
leader in music; it recently strengthened and diversified its
position with the acquisition of EMI Recorded Music.
In telecommunications, Vivendi owns GVT, the leading alternative
broadband operator in Brazil, and
SFR, a French leader in telecoms.
www.vivendi.com
Important Disclaimers
Cautionary Note
Regarding Forward Looking Statements. This press release contains
forward-looking statements with respect to the financial condition,
results of operations, business, strategy, plans and outlook of
Vivendi, including the impact of certain transactions. Although
Vivendi believes that such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of
future performance. Actual results may differ materially from the
forward-looking statements as a result of a number of risks and
uncertainties, many of which are outside our control, including but
not limited to the risks related to antitrust and other regulatory
approvals as well as any other approvals which may be required in
connection with certain transactions and the risks described in the
documents Vivendi filed with the Autorité des Marchés Financiers
(French securities regulator), which are also available in English
on Vivendi's website (www.vivendi.com). Investors and
security holders may obtain a free copy of documents filed by
Vivendi with the Autorité des Marchés Financiers at
www.amf-france.org, or directly from Vivendi.
Accordingly, we caution you against relying on forward looking
statements. These forward-looking statements are made as of the
date of this press release and Vivendi disclaims any intention or
obligation to provide, update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
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Depositary Receipt (ADR) facility in respect of its shares. Any ADR
facility currently in existence is "unsponsored" and has no ties
whatsoever to Vivendi. Vivendi disclaims any liability in respect
of any such facility.
SOURCE EchoStar