Telekom Selling Planet TV and Seeking Strategic Partner For TSmedia
Telekom Selling Planet TV and Seeking Strategic Partner For TSmedia
Earlier this year, the state-owned telecommunications operator Telekom was unsuccessfully seeking to recapitalize its television company Planet TV.
If anyone responded to the invitation for recapitalization, they will be able to get a maximum stake of 49% in the company, which Telekom estimated at around EUR 5 million.)
Telekom has thereafter amended the conditions of the initiated procedure, namely to change it to the sale of 100% share in the Planet TV.
In 2019, Planet TV had approximately EUR 14.5 million in revenue and a net loss of EUR 1.7 million. Their plan, unofficially, predicts a 0.8% increase in revenue each year, and that by 2024 the company will no longer make a loss.
According to media reports, Telekom is seeking a strategic partner for its TSmedia, which operates the Siol web portal.
The company’s 2019 revenue was approx. EUR 6,3 million, while they doubled their negative capital to EUR 0,7 million. Despite the problems in operations and its negative capital, Telekom values TSmedia at EUR 2.5 million.
Earlier this year, the state-owned telecommunications operator Telekom was unsuccessfully seeking to recapitalize its television company Planet TV.
If anyone responded to the invitation for recapitalization, they will be able to get a maximum stake of 49% in the company, which Telekom estimated at around EUR 5 million.)
Telekom has thereafter amended the conditions of the initiated procedure, namely to change it to the sale of 100% share in the Planet TV.
In 2019, Planet TV had approximately EUR 14.5 million in revenue and a net loss of EUR 1.7 million. Their plan, unofficially, predicts a 0.8% increase in revenue each year, and that by 2024 the company will no longer make a loss.
According to media reports, Telekom is seeking a strategic partner for its TSmedia, which operates the Siol web portal.
The company’s 2019 revenue was approx. EUR 6,3 million, while they doubled their negative capital to EUR 0,7 million. Despite the problems in operations and its negative capital, Telekom values TSmedia at EUR 2.5 million.
