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.