Siyaya awarded broadcasting licence in South AfricaWednesday, November 19th, 2014
Siyaya notified of award of television licence
- SA Regulator ICASA advises Siyaya that all requirements satisfied
Motive Television plc, the digital television technology, software and solutions provider, announces that its 100 per cent owned subsidiary, Motive Television Services Limited (“Motive”), has today been informed by Siyaya Free To Air TV (PTY) Ltd. of Johannesburg, South Africa (“Siyaya”) that Siyaya has received an official letter from the Independent Communications Authority of South Africa (ICASA) advising “that Siyaya TV has officially satisfied all the requirements to be issued an Individual Commercial Subscription Broadcasting Service License”. According to Siyaya, among the requirements were financial guarantees, research, and corporate structure.
On 1 May 2014, The Company announced the award to Siyaya of one of five provisional licenses to operate a pay television service in South Africa.
On 30 December 2013, Motive announced the signing of a five-year contract to install, integrate, and operate Siyaya’s Video-on-Demand (“VOD”) platform in conjunction with the expected launch of Siyaya’s television services on the Sentech Freevision DTH satellite service. Motive’s income from the contract includes upfront and operating fees and a share of VOD revenues. The contract will provide Motive a guaranteed minimum equivalent to £1.07 million (at current conversion rates) over the next five years, however, as stated in the announcement dated 16 September 2013; the Company estimates the probable value of this project to be approximately £2 million.
Leonard M Fertig, CEO of Motive Television plc, commented, “The finalisation of the broadcasting license to Siyaya is an important step forward for both Siyaya and Motive as the technology partner. We are very pleased with this news.”