Forthnet Media Holdings merges with Multichoice Hellas
| 01 November 2014
As part of intra-group restructuring and in the final procedural steps following acquisition in 2008, Greece’s Forthnet Media Holdings (FMH) is to merge with sister company Multichoice Hellas (MCH).
forthnetThe new firm will work under the Forthnet Media Holdings brand, with the company accepting and assuming all of MCH’s existing obligations, undertakings, rights, titles and interests. Following the absorption of MCH, FMH will be the operator of any and all licensed pay-TV delivery services and systems.
Notably FMH will also be the licence holder of the Nova pay-TV bouquet which was the target of a takeover bid — a non-binding offer within the range of €250-300 million on a debt-free/cash-free basis — by Hellenic Telecommunications Organisation (OTE). Despite the ongoing economic crisis in the country, Forthnet reported strong demand in the final quarter of its 2013 financial year, claiming 452,340 pay-TV subs representing a year-on-year increase of 13.9%, driven by a continued acceptance of the Nova triple-play offer.