After ending 2008 with debts double the 17m-euro revenues, andfailing to sell to Romtelecom fail this year, the operator hascontracted a loan from an Israeli private firm.
DTH Television Group, an Israeli-held company owning Boom TV,the third largest provider of satellite TV services domestically,in late October contracted a loan from Eurocom Networks &Technologies Israeli company, according to the data the operatorregistered with the electronic archive of secured transactions.
Archive data do not specify the value of the loan, and thecompanies' representatives could not be contacted for details, buta plausible hypothesis is that the money will be used to financethe company's debts and operations.
The company in late 2008 had 74m-euro debts and in 2008 netlosses stood at 33.7m euros, double the company's revenues. Theoperator a year ago took an over 18.5m-euro loan from UniCreditTiriac Bank.
The company is facing tough competition from RCS&RDS andRomtelecom, but manages to stay on the market particularly owing toits sports content offer. Boom TV won the rights to broadcast UEFAChampions League football matches for three seasons. The rightshelped the company maintain its customer base and also generatednew streams of income as Romtelecom pays to re-broadcast Boomsports channels. As a matter of fact, the company put up therevenues its gets from Romtelecom as collateral for the Eurocomloan.
Romtelecom this year negotiated the takeover of Boom TV, buteventually gave up the acquisition. Officially, Romtelecom deniesthe information.
Starting from Israeli press reports, there have been rumours onthe domestic market regarding the imminent acquisition of Boom TVby Eurocom. Eurocom, a company held by Shaul and Yosi Elovitch, isone of the biggest private groups in Israel involved in severalindustries, including communications, system integration, media,financial services and real estate. The group's officials could notbe contacted by edition close to provide details about the value ofthe loan.
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