GTV

VIVA LE TANZANIA

Agosti 28, 2007: Bosi wa taasisi ya utangazaji dunstan tido mhando (kati) akila stori na mabosi wa gtv siku ya uzinduzi wa kampuni hiyo katika kiota cha slipway, dar.

The current financial and global crisis has severelyinterrupted the company’s ability to secure furtherfunding for the continued operation of the business.

The company has worked extensively with externaladvisors and all internal resources to investigate,evaluate and analyze strategic alternatives for theCompany to further continue to operate. In determiningto approve the Company's plan of Liquidation, theboard and management carefully reviewed the advice andfindings.

Gateway Broadcast Services, suppliers of the GTVservice to subscribers across Africa has over the last2 years invested a total of US$200 million and createdjobs and competition in the 22 markets. The economiccrisis that has emerged globally over the last fewmonths has caused excessive demands on the business.

With immediate effect the service will be withdrawn.

“Increased instability in global markets interruptedour ability to secure funding on an acceptabletimescale and have left us no choice but to ceaseoperations,” said a company spokesman.

“We realise the negative impact this has had on ourloyal customers, creditors and staff, all of who havebelieved in GTV and the revolution in pay TV it hadcreated. We have tried every possible step to keep thecompany going but we are all the unfortunate victimsof the current global economic crisis.”

Thank you.
source: www.gtv.tv