After failed deal with MobiFone, AVG finds new owner
A source told VietNamNet that Audio Visual Global JSC (AVG) has been transferred to a new partner. However, the deal remains secret and no official statement has been made.
The source also said that a large Vietnamese bank was involved in the deal with an aim to improve its digital ecosystem and to provide customers with a range of user-friendly digital services.
AVG got a license for providing paid-TV service from the Ministry of Information and Communications and began providing service in November 2011 with ‘An Vien Television’ brand.
In January 2016, MobiFone decided to buy 95 percent of AVG shares and changed the television brand to ‘MobiTV’.
MobiFone reportedly spent VND8.89 trillion to buy 344.66 million shares in the deal, which meant the price of VND25,800 per share.
However, the deal failed and AVG was reluctant to publicize news after the failure.
After getting MobiTV back, AVG now has nearly one million pay-TV subscribers.
In addition, AVG provides broadcasting transmission services for local television channels and a number of private channels on digital terrestrial and digital satellite television systems.
In December 2020, AVG announced its new business strategy with the goal of becoming the leading business in the field of TV services and multi-platform content.
At the time when it joined the television market 10 years ago, AVG was the only private unit that owned a dual infrastructure platform of satellite television technology and single-frequency terrestrial digital with nationwide coverage, with the most advanced technologies for transmission and digital television broadcasting.
A representative of AVG said, together with the product and service ecosystem, AVG is deploying multichannel and omni-channels in order to develop customer multi-touchpoints in a convenient and fast way. This is also the core point of AVG's development strategy to build multi-platform products and services to create real value to meet the demand of the market.
AVG’s highest-end channel package has 150 channels, with 34 HD high-quality channels favored by many people.
The television market is witnessing a stiff competition between Vietnam’s companies and foreign cross-border service providers, such as Netflix, Facebook and Google. However, social networks and multimedia communication methods, smart devices, and digitization trends continue to grow strongly, causing big challenges to television units to retain their clients and develop digital platforms.