China's StarTimes makes proposal to rescue TopTV, BUSINESS DAY, Companies & Markets
AILING On Digital Media (ODM), the owner of pay-TV provider TopTV, is in talks to sell to Chinese firm StarTimes. The company, which applied for business rescue in October, to give it time to find investors, has been in discussions with the Chinese pay-TV group for the past few months. The deal, if successful, could see StarTimes — which operates pay-TV services in nine African countries — buying out TopTV's shareholders and settling some of the company's mounting debt. However, regulations cap foreign ownership on licensed broadcasting entities at 20%.