Cyfrowy Polsat has put a value of PLN 356 million (€92.2 million) on its new ten-year conditional access contract with Nagravison. The agreement extends the previous arrangement signed between the companies in November 2004 and has only been made public because its value exceeds 10% of Polsat’s revenues over the last four quarters.
According to the filing, Polsat will pay Nagravision a monthly fee in Euros based on the number of subscribers listed in its agreement. In return the Eutelsat-delivered platform will receive the rental, licence and technical support for the CA-system. In addition, Nagravision will also receive a fee on a per smart card basis.
The PLN 356 million fee is based on an exchange rate of 3.8622 per €1 as set by the Polish National Bank on March 31, 2010 and the number of subscribers anticipated by the operator for the duration of the contract. Cyfrowy Polsat had 3.2 million subscribers as of the end of 2009.
Commenting on the deal, Cyfrowy Polsat CEO Dominik Libicki said: “As the leading satellite operator in Poland it is important that we are able to deliver in a secure way an advanced portfolio of services to enable us to attract new and satisfy existing subscribers”.
He added: “We have been working with Nagravision for a number of years and I am glad that they continue to support us with innovative solutions which not only develop our business but also generate savings for us. On an increasingly competitive market, having a reliable partner in this field is one of our strengths.”
Nagravision CEO Pierre Roy said: “We are delighted to expand our cooperation with Cyfrowy Polsat, which is built on the trust established over the years between our companies. Our mutual commitment enables the customization of our solution roadmap to address Cyfrowy Polsat’s specific needs over the next years and support their growth.” Additional Reporting: Chris Dziadul
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