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June 01, 2012
Russia's satellite TV operator TriColor is belived to be in negotiation with a new shareholder which will hold just under 90 per cent of the platform. According to local sources, in February an undisclosed investor acquired a 37.7 per cent stake in TriColor's owner National Satellite Company, controlled by Zinaida Tolpekina and Olga Orlova (each with 50 per cent of shares) at the start of the year.
The same investor now intends to buy another 50 per cent. The acquisition is subject to approval by the Anti-Monopoly Office, which is expected to come to a decision by the end of 2012.
The investor is believed by some observers to be Russian technology developer and provider, General Satellite, which is planning to launch a satellite platform in Ukraine in the near future. In September 2009, Gazprom Media, owner of Russia's oldest satellite TV platform, NTV Plus, agreed to buy a majority stake in TriColor with a six-month option to proceed with the acquisition. The company, however, did not take up the option.
Recent changes made by TriColor in its offer (launching foreign channels for the first time, increasing its HD channel offer from one to 15) can be explained by funds gained from new investor in February. Currently TriColor's offer is over 70 channels, compared to 20 when it launched in 2007. Although the offer has been extended throughout 2007-2011 the company has not managed to increase ARPU from below €2, remaining an operator for a low-budget sector. At the end of the first quarter of 2012, TriColor had over 10m registered cards, including 7.7m receiving pay TV services. The extension of the offer makes increasing ARPUs more likely. Moreover, the pending acquisition of another 50 per cent of TriColor's shares mean the company is likely to continue enriching its channel line-up in future and so increase ARPU further.
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Companies: Tricolor National Satellite Company General Satellite Gazprom Media NTV Plus
