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    Wednesday, July 2, 2014

    Aftermath of Guaranty Trust Bank Refusal to Sell HiTV, Tinubu Lunches N250m PayTV company

    Former Lagos State governor, Asiwaju Bola Tinubu has further extended his grip in the media and broadcasting business as he finally rolled out services of his new pay TV company, CONSAT.
    According to information available to SG, the new pay TV platform, Continental Satellite Limited, will operate in the form of cable satellite pay television with bouquet and dish and the network will operate from the premises of Continental Broadcasting in Ikosi, Ketu, Lagos.
    Findings revealed CONSAT package cost N15,000 and will provide 15 channels which include CNN, BBC, Aljazeera and movie channels.
    Another 95 channels are also available for subscribers who prefer the cable service.

    The plan to float a pay TV platform by Bola Tinubu has been in the pipeline for some time now.  The equipment used in the setting up of the company was shipped in to Nigeria last year from Europe.  According to inside source, about N250 million went into setting up the new television venture.
    Tinubu’s intention to set up this new pay TV is borne out of his inability to take over assets of HiTV, a pay TV company where he is said to have financial stakes.

    GTBank’s terms and condition is identified as a stumbling block to Tinubu’s takeover bid and that was after the company packed up due to huge debts and its CEO, Toyin Subair left the employment of the company.
    CONSAT will no doubt give other pay TV platforms like DSTV, Startimes, a run for their money in terms of services and reach.  Tinubu’s CONSAT is said to be cheaper and provides more channels than other platforms.  The company’s official colour is yellow and black
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