Providence Equity buys majority in 2 satellite TV firms

PROVIDENCE – Providence Equity Partners Inc. has agreed to a majority stake in Dutch and Flemish DTH broadcast satellite operators CanaalDigitaal and TV Vlaanderen, the two broadcasters said in a joint statement.

Financial terms were not disclosed.

CanalDigitaal claims 700,000 subscribers and Vlaanderen 30,000. The two companies have combined annual sales of about $131 million, Hans Wolfert, a partner at Airbridge and the chairman of CanalDigitaal, told Bloomberg News.

Airbridge Investments, which now owns all shares in both companies, is to retain a minority interest. Airbridge had been seeking a buyer since November, according to Broadband TV News, and when Providence Equity “came to us … we liked them immediately because of their people and their knowledge of the telcoms and media industries,” Wolfert said.

- Advertisement -

The deal is still subject to approval by Dutch regulator NMa.

Providence Equity Partners is a global private investment firm based in Providence, with offices in New York and London, that specializes in media, entertainment, communications and information companies. Additional information is available at www.provequity.com.

No posts to display