WIN trumps rival for control of SelecTV

Do I hear any higher bids going once.. going twice... Sold!!! ..... WIN trumps rival for control of SelecTV http://www.theage.com.au/news/Business/W...1174391176.html June 30, 2006 - 7:14PM Advertisement AdvertisementRegional television broadcaster WIN Corporation Pty Ltd has trumped a rival bid to gain control of pay TV company SelecTV Broadcasting Ltd. WIN has offered $23.47 million for 195.6 million SelecTV shares at 12 cents per share, which would result in it holding a majority stake in the company. The agreement with WIN is conditional only on SelecTV shareholders approving the issue of shares to WIN. Listed telecommunication company Access Providers Limited (APV) this week made an offer of one APV share for each SelecTV share held. The APV offer is highly conditional and does not provide any funding to SelecTV or certainty to SelecTV shareholders, SelecTV said in a statement. "The directors of SelecTV unanimously consider the unconditional WIN transaction to be superior to the APV offer and, in the absence of a superior proposal, recommend that shareholders approve the issue of shares to WIN and reject the APV bid," the company said. SelecTV has engaged Lonergan Edwards and Associates Ltd to prepare an independent experts report to assist shareholders in assessing the WIN transaction. A meeting of SelecTV shareholders is expected to be convened for late next month.

SelecTV gains $23.47m support from WIN CorporationJune 30 2006 SELECTV Broadcasting Limited (ABN 55 106 794 905) (�SelecTV�), Australia�s newest pay television company, today announced that WIN Corporation Pty Limited (ABN 43 000 737 404) (�WIN�) has agreed to subscribe for 195,609,454 SelecTV shares at $0.12 per share to raise approximately $23.47 million which would result in WIN holding a majority stake in the company. The agreement with WIN is conditional only on SelecTV shareholders approving the issue of shares to WIN. A meeting of shareholders is expected to be convened for late July 2006. SelecTV has both an immediate and medium term requirement for equity funding. The WIN transaction, if approved, would immediately fully fund SelecTV�s business plan. SelecTV CEO Jim Blomfield said, �WIN�s presence in SelecTV is very welcome. It will add a broad and complementary dimension to our operation that will allow us to move ahead with confidence�. Andrew Gordon, Executive Chairman of WIN Corporation added, �Working with SelecTV, WIN can extend its presence into pay television to all of Australia. SelecTV will compliment our current broadcasting operations and provide us with a vehicle to capitalise on our growing media assets�. Shane Allan, Chairman of SelecTV said, �An alliance between two such significant companies, whose operations are managed by some of Australia�s most experienced media executives, secures the future of our dynamic young company�. WIN is the largest regional television broadcaster in Australia. SelecTV shareholders have also been advised of a takeover bid for SelecTV made by Access Providers Limited (�APV�), offering one APV share for each SelecTV share held. The APV offer is highly conditional and does not provide any funding to SelecTV or certainty to SelecTV shareholders. The Directors of SelecTV unanimously consider the unconditional WIN transaction to be superior to the APV offer and, in the absence of a superior proposal, recommend that shareholders approve the issue of shares to WIN and reject the APV bid.

In a recent post I said: "All I can say about the APV takeover bid is ..... we live in interesting times! Should be worth watching over the next few weeks." I hope we didn't disapoint!

And what does WIN mean ?? Big deal ... a regional TV providor that beams CH 9 !!.... So.... leads to the question ?? ... Anything to do with CH 9 and can we expect SELECTV subscribers to have WIN on Sattelite ..???....would be nice to have the NRL on SELECTV thru WIN !!! .....huh ???........

Lipski ! I didn't like your comment that ANT1 was "an ok channel"....It is actually the most sought after greek channel in Australia ! As a matter of fact, Greeks are willing to pay a minimum of $50 -60 a month (and some even more) just to have ANT1 on FOX or OPTUS !!!!.....Done any research on this ???....Can "YOU" get it for the greek's at what SELECTV is offering ??? I am not having a go at you but seriously ..... isn't 24.95 a fair price for people that "only" want ANT1 ..?? Foxtel wouldn't have it for "nothing" in their package and secondly .... how many greek channels apart from "MEGA" ..actually tailor their programing for pacific viewing ???....It's a WINNER !!!...... I love the fact you have 6 or so premium greek channels but the response from people that are watching them is the "time slot" doesn't suit them and that they have to stay up all night to view their fav program !! ... Bit harsh on the "already" whinging Greeks don't you think ?.....

APV ...TTV ..... SPTV ....any TV !! ... What is in it for the subscriber ?? ... Please explain !! ... After what TARBS did and is "now" trying to make up for it....what is in it for the subscribers that are looking for security ???? .... UBI ..... SELECTV ..... Please explain ??? ....

WIN Corporation is one of the largest private companies in Australia. They have very significant resources. This means that SelecTV's future is assured and subscribers should have confidence in the long term availability of our service. It also means that we have resources to expand our service and activly compete with others. Also, Antenna AP is only available on F**tel and SelecTV, no other pay tv platform has the rights despite what their CSR's are telling unsuspecting subscribers and mislesding editorials in some Greek newspapers.

enthusiat, Actually Alpha, MEGA and Star are Australian specific feeds

I am Greek and can say Ant1 gets boring after a while and yes it " WAS " the best sought out channel when there was nothing else but now there is a large selection of Greek channels available Ant1 doesnt look so attractive anymore Most of the Greek channels are timeshifted to Australian Times look at the adds etc they all quote AEST time Star only shows Australian Times, Mega show USA and Australian times Alpha International is timeshifted to Australian times do abit more research in ur channels i say as most of the UBI channels have been specifically tailored for our region Again SelecTV getting ERT will hurt us all so i hope UBI get it and put it FTA as this only started to happen when SelecTV aquired rights to ERT []Lipski ! I didn't like your comment that ANT1 was "an ok channel"....It is actually the most sought after greek channel in Australia ! As a matter of fact, Greeks are willing to pay a minimum of $50 -60 a month (and some even more) just to have ANT1 on FOX or OPTUS !!!!.....Done any research on this ???....Can "YOU" get it for the greek's at what SELECTV is offering ??? I am not having a go at you but seriously ..... isn't 24.95 a fair price for people that "only" want ANT1 ..?? Foxtel wouldn't have it for "nothing" in their package and secondly .... how many greek channels apart from "MEGA" ..actually tailor their programing for pacific viewing ???....It's a WINNER !!!...... I love the fact you have 6 or so premium greek channels but the response from people that are watching them is the "time slot" doesn't suit them and that they have to stay up all night to view their fav program !! ... Bit harsh on the "already" whinging Greeks don't you think ?..... [/]

If their line-up is so good, why do they still feel the need to distribute mis-information to the public in respect to Ant AP and ERT ???

[]If their line-up is so good, why do they still feel the need to distribute mis-information to the public in respect to Ant AP and ERT ??? [/] Isn't that what Select TV was doing back in the Early days of Select TV?

Not at all. We gave away TV Chile for eight months. I took many of those calls - I don't recall telling anyone the equivilent of "Ant AP and ERT are comming to UBI in a couple of months" ??? In what whay did we mislead people ????

You may not be but i have spoken to a few greeks who have been told by SelecTV reps that Selectv are getting greek channels which are not available to them??.... I think this is very misleading and giving ppl false hopes....

We have a zero tollerance approach to that sort of thing. I'd be curious to know which channels they were promising?

I recall one stage Select Tv said they had exclusive rights to Mega. ???

Anyhow, i am interested to see if UBI will add Ant1 to thier platform. Obviously its not exclusive to Select WMI or Fox so whats stopping them...

GAME ON I SAY !

Looks like WIN wants to buy selectv lock, stock and barrel.

http://www.theaustralian.news.com.au/story/0,20867,19975586-7582,00.html

At one stage we had a hand shake deal with Mega and a signed contract with Alpha's agent (we lost a lot of money with Alpha) - but that's ancient history.

TARBS/UBI burned a lot of people - some channel operators have long memories......