Asia Satellite tv for pc Telecommunications (AsiaSat), a number one operator of satellites, has moved into content material distribution with the acquisition of Hong Kong- and U.Ok.-based TV distributor Lightning Worldwide.
The diversification was described by AsiaSat as “a strategic transfer to develop the corporate’s companies and prolong its shoppers’ attain to world audiences by way of conventional and new distribution platforms together with OTT and FAST.”
AsiaSat is understood to be buying 100% of Lightning Worldwide, however different deal phrases weren’t disclosed.
The information was disclosed on the primary day of the AVIA convention in Hong Kong and on the second day of the Shanghai Worldwide Tv Pageant.
Lightning was based some 12 years in the past represents media house owners and producers and now handles distribution of TV channels and program content material. It presently represents linear TV channels together with Motion Hollywood Motion pictures, Docsville, GB Information, Kartoon Channel!, Liverpool’s LFC TV, Pet Membership TV, Pulse TV, TRACE City, TRACE Sports activities Stars, TRACE Latina, TRACE Caribbean, and the basic pop music channels NOW 70s, 80s and 90s. It additionally licenses a catalog of completed exhibits and codecs.
Hong Kong-based AsiaSat operates a fleet of six broadcast, telecoms and knowledge satellites. The corporate delisted from the Hong Kong Inventory Trade in 2019 and had a market valuation of some HK$2 billion ($260 million). Since going personal, the corporate has turn out to be an oblique three way partnership between CITIC Restricted, a conglomerate finally owned by the Chinese language authorities, and Carlyle Group, a number one U.S. monetary companies company.
“Combining Lightning’s experience in content material distribution with AsiaSat’s all-embracing satellite tv for pc and IP-based distribution capabilities will allow each firms to ship custom-made options together with content material aggregation and playout, channel distribution and affiliate administration,” the businesses defined in a press release.
“I’m excited to announce this funding in Lightning so as to strengthen AsiaSat’s capabilities in channel distribution and supply prospects with end-to-end B2B and B2C media options,” stated Roger Tong, AsiaSat CEO.
“We’re thrilled to affix forces with AsiaSat and produce our expertise in TV content material distribution and options into the corporate,” stated James Ross, founder and CEO of Lightning.
