China Digital TV Wins Satellite TV Contract in Venezuela
BEIJING, May 28 /PRNewswire-Asia/ -- China Digital TV Holding Co., Ltd. (NYSE: STV) ("China Digital TV"), the leading provider of conditional access systems to China's expanding digital television market, today announced that it has entered into a contract with CANTV, the leading integrated telecommunication service provider in Venezuela, to install various systems and solutions on CANTV's direct-to-home (DTH) satellite platform.
CANTV is the largest integrated telecom operator in Venezuela and has been developing its IPTV services since 2009, expecting to deliver IPTV beta tests in 2010.
China Digital TV has been engaged to install a conditional access (CA) system, a subscriber management system (SMS), and electronic program guides (EPGs) on CANTV's DTH satellite platform to enhance the operator's IPTV network. The DTH platform is expected to begin beta testing in the third quarter of 2010 and be fully operational in early 2011. It is expected to cover the entire territory of Venezuela, servicing more than 600,000 paying subscribers by 2015.
Tracy Yue, general manager of China Digital TV's overseas business, commented, "We are delighted to win our first contract in Latin America, which shows the solid progress we are making in overseas market expansion. This encouraging achievement also demonstrates the strong demand for China Digital TV's products and services in emerging markets. We will continuously optimize our solutions during the implementation process according to the needs of CANTV, and assist CANTV to enhance its competitiveness in Venezuela's emerging pay-TV market."
Alfredo Munoz, manager of multimedia operations at CANTV commented, "We are excited to partner with China Digital TV, whose solutions have demonstrated great success in China, the world's largest TV market by viewership. China Digital TV's excellent security technology, anti-piracy solutions, and high-quality service enjoy a high reputation among industry players in the China market. We are very confident in our partner's ability to provide the advanced technologies and solutions necessary for the success of our groundbreaking DTH project."
Safe Harbor Statements
This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995.
These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "may," "should" and similar expressions. Such forward-looking statements include, without limitation and comments by management in this announcement about trends in the CA systems, digital television, cable television and related industries in the PRC and China Digital TV's strategic and operational plans and future market positions. China Digital TV may also make forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about China Digital TV's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from projections contained or implied in any forward-looking statement, including but not limited to the following: competition in the CA systems, digital television, cable television and related industries in the PRC and the impact of such competition on prices, our ability to implement our business strategies, changes in technology, the structure of the cable television industry or television viewer preferences, changes in PRC laws, regulations or policies with respect to the CA systems, digital television, cable television and related industries, including the extent of non-PRC companies' participation in such industries, and changes in political, economic, legal and social conditions in the PRC, including the government's policies with respect to economic growth, foreign exchange and foreign investment.
Further information regarding these and other risks and uncertainties is included in our annual report on Form 20-F and other documents filed with the U.S. Securities and Exchange Commission. China Digital TV does not assume any obligation to update any forward-looking statements, which apply only as of the date of this press release.
About China Digital TV
Founded in 2004, China Digital TV is the leading provider of CA systems to China's expanding digital television market. CA systems enable television network operators to manage the delivery of customized content and services to their subscribers. China Digital TV conducts substantially all of its business through its PRC subsidiary, Beijing Super TV Co., Ltd., and its affiliate, Beijing Novel-Super Digital TV Technology Co., Ltd., as well as subsidiaries of its affiliate.
ABOUT CANTV
CANTV (BVC: TDV.D) is the first telephone service enterprises in Venezuela, founded in 1930. The company was re-nationalized in 2007. As of December 2009, CANTV's customer base numbered 13.43 million mobile subscribers, 5.63 million fixed telephony subscribers and 1,264,000 broadband subscribers.
For investor and media inquiries, please contact:
In China:
Eric Yuan
China Digital TV
Tel: +86-10-8279-0021
Email: [email protected]
Cynthia He
Brunswick Group LLC
Tel: +86-10-6566-2256
Email: [email protected]
In the US:
Kate Tellier
Brunswick Group LLC
Tel: +1-212-706-7879
Email: [email protected]
SOURCE China Digital TV Holding Co., Ltd.
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