TV Cabo to Launch Digital Satellite Coverage
Business Wire - June 29, 1998 14:23
LISBON, Portugal--(BUSINESS WIRE)--June 29, 1998--Portugal Telecom (NYSE: PT), the Portuguese telecommunications company, today announced that its wholly owned subsidiary TV Cabo Portugal ("TV Cabo") will launch a digital satellite platform which will allow coverage throughout Portugal, beginning September 1, 1998.
TV Cabo Portugal digital platform will fulfil domestic market needs for existing cable TV programming, and provide the capacity for new channels planned for launch by TV Cabo, in line with current regulations.
After September 1, cable TV viewers throughout Portugal will have access to the new sports information channels like Sport TV, Lisbon and Oporto channels, as well as several other channels scheduled for launch.
This program was facilitated by a contract with Via Digital, a Telefonica Group company that will work cooperatively with TV Cabo in the satellite area.
TV Cabo is the largest cable TV operator in Portugal, with over 1,400,000 homes passed by March 1998 and a penetration rate of 30%.
Portugal Telecom, privatized in June 1995, is the principal telecommunications provider offering local, domestic long distance and international telephone service throughout Portugal. A secondary offering occurred in July 1996, and a third offering took place in October 1997. Portugal Telecom's Common shares trade on the Lisbon Stock Exchange and its ADRs, each equal to one ordinary share, trade on London SEAQ International as well as the New York Stock Exchange. Information may be accessed on Bloomberg under the symbol PT, on the Reuters 2000 Service under the symbol PT and on Quotron under the symbol PT. |
