here is a bad news from 17 mar 06Satellite communications...

here is a bad news from 17 mar 06
Satellite communications company Multiemedia has sold its local technology distribution business MTD (Multie Technology Distribution) to a group of investors citing the inability to find stable management.

The terms of the sale, to a an investor consortium which includes Gary Sholl of Sholl Communications, have not been disclosed.

"We just didn't have the right experience to manage our distribution arm MTD," James Kellet chief operations officer at Multimedia said.

The sale was also in line with Multiemedia’s plans to expand its global presence in the satellite services industry, he said.





“We announced to the investor market in January that the company was focusing on strengthening its position as a major player in satellite services and the sale of MTD is a key step along this path,” CEO Adrian Ballintine, said.

According to Multiemedia, the sale of MTD would allow the company to concentrate on satellite services. The sale follows the acquisition of satellite dishes in Adelaide and Perth from New Skies Satellites B.V. of the Netherlands.

“Multiemedia’s divestment of business allows company to focus on NewSat satellite services division,” Ballintine said.

He believed there was greater potential for ‘triple play’ services (video, voice and data) to be delivered via satellite to the Australian commercial market.

By dropping MTD, the company could concentrate on its core carriage business, Ballintine said.

The company was also in talks to divest AirWORKS Media, which offers digital advertising content to customers such as Woolworths, via satellite to stores and other points of sale.

MTD would rebrand to its original name Magnafield Tehcnology Distribution, Ballintine said.