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Magyar Telekom's DTH TV Platform, Member of Deutsche Telekom Group, Extends Agreement with Spacecom Securing Future Service on AMOS-3 Satellite 05.07.2021 Extension Agreement Worth a Minimum of USD 8.6 Million Tel Aviv - July 5, 2021: Spacecom (Tel Aviv Stock Exchange: SCC), the satellite services provider and owner-operator of the AMOS satellite fleet, today announced that T-Home DTH (direct-to-home) service, the leading DTH provider in Hungary and a brand of Magyar Telekom, the principal provider of telecom services in Hungary, has signed a follow-on extension contract with Spacecom. The new agreement secures services until the end of 2024 and is worth a minimum USD 8.6 Million.
The T-Home DTH platform currently broadcasts over 160 channels throughout Hungary including over 30 in HD via the AMOS fleet at the 4 W orbital position. As the country's largest TV broadcasting service, it reaches over 33% of Hungarian households. Magyar Telekom launched the platform in 2008.
For more than a decade we have developed a trusting working relationship with Magyar Telekom and I am honored by their vote of confidence in our fleet and future plans for 4 W. This extension agreement demonstrates that our capabilities, professionalism and value delivered are vital elements contributing to T-Home's DTH business future. I am excited and look forward to a great continuation of our partnership in the coming years, reported Oren Tepper, Spacecom's SVP Global Sales.
Hungary is a key Spacecom market. Last month, the company reported it is negotiating with 4iG Plc., a Hungarian information technology and telecommunications company (Budapest Stock Market: 4iG Nyrt.), for the latter to take a majority 51 percent stake in the Israel-based satellite services company. According to Spaceom CEO Dan Zajicek, The deal will strengthen and widen Spacecom's operating potential in Eastern Europe and create joint ventures and synergy between the companies.
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