FIJI’S only pay television station has been sold to telecommunications company Digicel Fiji.
Sky Pacific, a division of Fijian Holdings Ltd (FHL) subsidiary Fiji Television Ltd, has been handed over to Digicel Fiji Ltd for $5.75million with a $0.75m deposit initially paid after the agreement was signed in Suva yesterday.
Digicel Fiji will officially take ownership of Sky Pacific as part of their deal along with all infrastructures and 45 employees during a transitional period over the next 21 days.
During the course of the 21 days, Digicel Fiji and Sky Pacific will work on regulatory approvals.
FHL chief executive Nouzab Fareed said they had done their best with Sky Pacific but there was still room to grow in pay television.
“But the global trend is such that TV is becoming a business for telecommunication companies,” Mr Fareed said.
Mr Fareed also gave his assurance, it would continue to run on free-to-air.
“It would be business as usual, there won’t be any change. The transaction is subject to few conditions because any transaction needs regulatory approval.”
In this case, Mr Fareed said, many approvals were required to complete the transaction.
Mr Fareed also assured the 23,000 subscribers across the country that the new owner was capable of doing much better work compared with what they had done.
Digicel Fiji CEO Darren McLean said the acquisition was a major milestone for the company and the transaction moved them to another level to a total communication entertainment provider in the region and around the world.
“We are very excited about the opportunity to grow the Sky Pacific brand and its customer-base further,” Mr McLean said.
He said they would continue business as usual at Sky Pacific.
The transfer of Sky Pacific customer service and infrastructure, he said, would take months.
Fiji Television will provide services for them for the next 24 months as per their obligation under the contract.
