1st May 2014 11:18
LONDON (Alliance News) - Motive Television PLC said Thursday that it had been informed by Siyaya Free to Air TV Ltd, with whom it has a five-year contract to operate a video on demand platform, that it had received one of five licenses it needs to operate a pay television service in South Africa.
The licence is subject to certain conditions; Siyaya needs to submit more research from provinces outside of Gauten, where it has been running a trial.
In March, Motive began installing its Content Express software platform in South Africa ahead of commercial operations in Autumn.
Motive's five-year contract with Siyaya will provide a minimum revenue of GBP1.07 million over the course of the contract, although Motive estimates the likely value of the project at around GBP2 million.
"The award of the provisional licence is another important step toward the launch of Siyaya's business, and as a participant in the upside Motive is delighted with this news," said Chief Executive Leonard Fertig in a statement Thursday.
Shares in Motive were trading up 2.4% at 0.021 pence Thursday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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