Romtelecom pays 8m euros for Boom TV

Romtelecom, number three on the Romanian TV services market, will pay between 7.3 and 8 million euros (VAT-less) to get the 95,000 subscribers of Boom TV – a satellite television platform operated by DTH Television Grup. Romtelecom is negotiating the acquisition with Casa de Insolvență Transilvania (Transilvania Insolvency Firm – CIT), court-appointed administrator of DTH Television Grup, an insolvent company with over 100 million euros in debts.
“Negotiations start from the price Romtelecom conveyed to the judicial administrator, 8 million euros plus VAT,” reveals the reorganisation plan announced by CIT, which will be submitted for approval to creditors on March 21st. “We are in an advanced stage of negotiations to take over Boom,” Romtelecom confirmed.
Boom TV previously negotiated its sale to Romtelecom two years ago, for over 50 million euros, but then Romtelecom suspended talks abruptly. Boom TV has since lost over 130,000 subscribers and accumulated debts.
The acquisition of Boom TV would bring Romtelecom to 1.148 million clients on the TV services segment, marginally behind UPC, number two on the market, which had 1.156 clients at the end of December 2010.