China Digital TV Wins Tender from Venezuela's CANTV
Nov 7, 2014
BEIJING, Nov. 7, 2014 /PRNewswire/ -- China Digital TV Holding Co., Ltd. (NYSE: STV) ("China Digital TV"), the leading conditional access systems provider in China's expanding digital television market, today announced that it has won a tender to supply 900,000 smart cards to CANTV, the leading integrated telecommunication service provider in Venezuela, for use on CANTV's direct-to-home ("DTH") platform.
China Digital TV had already installed a conditional access (CA) system, a subscriber management system (SMS), and electronic program guides (EPGs) on CANTV's DTH satellite platform to enhance the performance of the operator's Internet protocol television (IPTV) network.
CANTV's DTH platform covers the entire territory of Venezuela, serving more than 500,000 paying subscribers.
Dr. Zengxiang Lu, CEO of China Digital TV, commented, "We are delighted to win yet another tender from CANTV. We will work closely with them to tailor our solutions to their needs, and look forward to helping them strengthen their position in Venezuela's emerging pay-TV market. We are pleased with the progress we are making in expanding our business overseas amid increasing demand for China Digital TV's products and solutions in developing markets."
Safe Harbor Statements
This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995.
These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "may," "should" and similar expressions. Such forward-looking statements include, without limitation and comments by management in this announcement about trends in the CA systems, digital television, cable television and related industries in the PRC and China Digital TV's strategic and operational plans and future market positions. China Digital TV may also make forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about China Digital TV's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from projections contained or implied in any forward-looking statement, including but not limited to the following: competition in the CA systems, digital television, cable television and related industries in the PRC and the impact of such competition on prices, our ability to implement our business strategies, changes in technology, the structure of the cable television industry or television viewer preferences, changes in PRC laws, regulations or policies with respect to the CA systems, digital television, cable television and related industries, including the extent of non-PRC companies' participation in such industries, and changes in political, economic, legal and social conditions in the PRC, including the government's policies with respect to economic growth, foreign exchange and foreign investment.
Further information regarding these and other risks and uncertainties is included in our annual report on Form 20-F and other documents filed with the U.S. Securities and Exchange Commission. China Digital TV does not assume any obligation to update any forward-looking statements, which apply only as of the date of this press release.
About China Digital TV
Founded in 2004, China Digital TV is the leading provider of conditional access ("CA") systems to China's rapidly growing digital television market. CA systems enable television network operators to manage the delivery of customized content and services to their subscribers. China Digital TV conducts substantially all of its business through its subsidiaries, Beijing Super TV Co., Ltd. and Beijing Novel-Super Media Investment Co., Ltd, and its affiliate, Beijing Novel-Super Digital TV Technology Co., Ltd.
CANTV (BVC: TDV.D) is the first telephone service enterprise in Venezuela, founded in 1930. The company was re-nationalized in 2007.
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SOURCE China Digital TV Holding Co., Ltd.