Xantic transfers its Media Business to Castor Broadcasting
Media business including contracts with leading commercial radio stations, in-store music providers, Broadcast and IP-services transferred to Castor Broadcasting B.VCastor Broadcasting B.V., a Hilversum-based business founded by the former management team of Xantic’s Fixed Satellite Service Business Line. The move will enable Xantic to focus on developing its primary business in mobile satellite communications.
The agreement will launch Castor Broadcasting into a leading position in the Dutch broadcasting market and will also enable the Company to bring new service offerings to the industry through continuous research and development. Expansion plans to other geographical markets are also planned as a result of this acquisition.
Under the terms of the agreement, Castor Broadcasting takes over all personnel and assets related to the business. This includes the Hilversum Teleport facilities, the most advanced Teleport for Fixed Satellite Services in The Netherlands. In addition to maintaining all existing services, Castor Broadcasting plans to expand its portfolio through continual in-house product development and through external strategic partnerships.
All customers have been contacted and transfer of operational management was concluded 1 April 2005. Customer migration from Xantic to Castor Broadcasting was purely an administrative process, as all assets, personnel, supplier contracts and processes remain the same.
“This is a result of our increasing efforts to focus on and excel in existing mobile satellite services as well as in upcoming BGAN (Broadband Global Area Network) services, both for the Maritime and Land market,” said Pieter Eelkman Rooda, CEO of Xantic. “We are confident and pleased that Castor Broadcasting will continue to provide an excellent service to our Broadcasting customers and are convinced that this will benefit both customers and Castor Broadcasting in the short and long term”.
“This deal puts Castor Broadcasting in a leading position in the Dutch satellite communications market by combining a strong customer base and a robust product portfolio with the most advanced Teleport facilities for fixed satellite services in the country”, said Ivo Veldkamp, CEO of Castor Broadcasting. “We have ambitious plans to expand our service offering as well as our international coverage by leveraging the technical expertise and market experience we have gained over the last 15 years.”
