Friday, January 30 2009
The coming of GTV to Uganda broke the monopoly that had been enjoyed by DSTV for years and also forced DSTV to cut drastically on their pricing and increase on the channels.
Gateway Broadcast Services has been forced to close operations due to the current financial and global crisis. "Increased instability in global markets interrupted our ability to secure funding and left us no choice but to cease operations," said a company spokesman. "We have tried every possible step but we are all unfortunate victims of the global economic crisis."
Part of the liquidation statement on the GTV website reads: “We realise the negative impact this has had on our loyal customers, creditors and staff, all of who have believed in GTV and the revolution in pay TV it had created. We have tried every possible step to keep the company going but we are all the unfortunate victims of the current global economic crisis.”
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