Startimes officially takes over ZNBC

The Competition and Consumer Protection Commission has granted a conditional authorisation for a merger between national broadcaster ZNBC and Hantex Corporation which is controlled by China’s Startimes.

An application was made on June 20 for the merger of the two institutions.

Shareholding in ZNBC would be relinquished upon full payment of an over $270 million loan obtained by the government for the digital migration exercise, according to one of the conditions for the merger as stated in CCPC’s statement.

CCPC board chairperson Kelvin Bwalya Fube (KBF) has issued a statement to announce the merger, which now confirms earlier reports that the Chinese company had taken over the running of ZNBC.

ZNBC and Hantex formed a joint venture called Top Star, which is currently controls television signals on the local market, a move that has incensed many local television proprietors.

Source: The Mast