Multiple CATV System Operator & Program Provider (MSO) C&M has multiple foreign investors in the reserve bidding. Domestic cable broadcasting companies are waiting to grasp opportunity.
Goldman Sachs Group of C&M sale supervisor announced on the 25th that they have received the letter of intent for the ongoing reserve bidding from foreign investors in order to sell stocks of 93.81% of C&M share. The domestic business, which was the strong candidate for this bidding did not participate.
Related official said, “There were more foreign participants than they were from South Korea in the reserve bidding. More companies may participate in the actual bidding so they we’ll be more candidates.”
Foreign investors △Opening broadcasting market according to effect of Korea-USA Free Trade Agreement (FTA) △C&M managing platform and broadcast channel business user (PP) via IHQ △Korea Video on Demand (VoD)’s growth has been evaluated for high value.
The number of members that C&M has was about 2,370,000 household as of this past January. For domestic cable broadcasting companies that are expected to participate in the bidding are CJ Hello Vision, T-Broad, SK Broadband. If CJ Hello vision or T-Broad market takes over C&M, than the company that has taken over would be no compete rank number 1 in the cable TV market.
Related official said, “The actual bidding is most likely to happen in June. Until then, the candidates for take over will analyze the afterward plans and budget for taking over and etc., waiting for opportunity to seize all.”
Staff Reporter Yoon, Heesuk | pioneer@etnews.com