Η Nova suspends its retransmission MEGA Channel through its subscription services
Its customers Nova will be able to continue watching the MEGA channel via Digital Terrestrial TV using conventional antennas and decoders Nova/EON.
The above decision follows demands for exorbitant and unreasonable increases for three and a half times higher signal retransmission rights through subscription services. Nova remains open to renegotiation to continue working together on reasonable and mutually beneficial terms.
As a result of this, a smear campaign has been launched since yesterday with heaps of false claims and statements against the Nova and the United Group, and their credibility regarding the implementation of their commitments for investments in Greece.
These allegations are completely unfounded and are aimed at harming our company, our employees, our customers and the thousands of Greek citizens who will benefit from the investments made by Nova. It is very disappointing that MEGA Channel is abusing its media power to influence the business decisions of its partners. Using one's own means to put unfair pressure on one's partners to accept unreasonable terms is completely unacceptable behavior.
We will not succumb to these methods, and we will defend the rights in consultation with all competent bodies, against the abusive treatment of the national television frequency for personal gain.
Nova, a member of the United Group, the leading provider of telecommunications and media services in Southeast Europe, is one of the oldest and largest telecommunications and media companies in Greece, bringing mobile telephony, internet and pay TV to Greece for the first time , and has approx 4.000 employees and associates and 300 stores nationwide.
Nea Nova is the second largest player in the Greek telecommunications market – in the fixed telephony and pay TV sectors – and one of the strongest arms of the United Group, contributing 33% of United Group's total revenue amounting to 2.7 twice. Euro. As of 2020 United Group has already invested 1.8 billion Euros in Greecea, being one of the largest investors in the country and committed to investments 2 billion Euro until 2027, with 400 million Euros of this having already been invested in 2022 and the 1st 6 months of 2023.
MEGA's claims that an investment plan of this scale, which was announced in September 2022 with an implementation horizon of 2027, should have been implemented within a few months, are preposterous and clearly show the real intentions behind them.
Attempting to mislead consumers and the general public with false information about Nova, such as that Nova is unable to pay its debts, can only be interpreted as a direct attack on Nova and its shareholders because it is a legitimate competitor in the interests them and why we refused to accept an absurd increase in pay-TV viewing rights for a free-to-air channel. Nova's debt is only x0.08 of EBITDA (earnings before taxes, depreciation and amortization) and the company is essentially debt-free following United Group's significant investment.
We remain undeterred by these defamatory actions and continue to deliver on our promise to provide top quality services to our customers and to be a strong supporter of Greece's digital transformation. We are here because we believe in Greece's prospects, we continue stronger because we owe it to our people and our customers. We came to stay.
About Nova
Nova is the provider that brought Internet, mobile telephony and pay TV to Greece for the first time. It is a member of the United Group and is the provider resulting from the merger of Nova with Wind. It offers a wide range of services with 5 million mobile, fixed, internet and pay TV users. Nova with its long heritage of innovation is strengthened by United Group's international experience, know-how and investment plan for Greece.
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