Secondarily, following the announcement by the Gateway Group (of which GTV is a subsidiary) of its conditional agreement to sell its telecommunications businesses to the Vodacom Group, the African mobile operator; the shareholders have re-affirmed their commitment to continued investment in the expansion of the pay-TV business.

Julian McIntyre, founder and managing director of GTV said “Following Gateway's tremendous success in African telecommunications, we believe that the media industry and in particular pay-television represents the next great investment opportunity on the continent. We have demonstrated our commitment to GTV with almost $200m of investment to-date and following the extraordinary success since launch, we are committed to further long-term financing.”

[3 Sep 2008 10:07]

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