Romtelecom terminates contract with Boom TV
Romtelecom, number three on the local TV services market, has
terminated the contract whereby it rebroadcast a sports channel
from Boom satellite TV service, thus putting additional pressure on
the owner, DTH Television Grup, which went insolvent on the 7th of
May in an attempt to ensure protection from the creditors that have
dozens of millions of euros to recover.
The contract signed a year ago got Boom TV approximately 100,000
euros in revenues per year and had been used as collateral for a
loan. Market data reveal several thousand clients of Romtelecom's
satellite TV service paid 2.2 euros per month to get three sports
channels, one of which was Boom Sport One - that broadcast UEFA
Champions League football matches.
Romtelecom officials did not reveal the reason for the termination
of the contract, saying only that, as of the 21st of May, Dolce's
clients would no longer receive Boom Sport One, and will be
compensated with several months of free subscription.
Eurosport, Romenergo, Grecos Energy and Eurocom, along with
Unicredit Tiriac Bank, which granted the company two loans worth
18.5 million euros filed for Boom's insolvency.