ZF reports that that UniCredit Tiriac Bank and the Greek companies Eurocom Telecommunications and Energy Networks & Technologies has asked a court to start insolvency proceedings on Israeli-backed DTH Television Group, Boom TV’s operator.
The platform is understood to owe UniCredit Tiriac Bank loans of €16 million and €2.5 million that were obtained in 2008. The main shareholders in Boom TV are Blackdzaar (Cyprus), Elran Investments (Israel) and Sandhirst (Cyprus).
Boom TV is distributed by Amos 2 at 4 degrees West. As of March 2010, it offered subscribers no fewer than 10 proprietary channels (all using the ‘Boom’ brand name) on an exclusive basis, one (Boom Sport One) non-exclusively and 65 retransmitted Romanian and international channels.
The platform currently has around 130,000 subscribers in a market also served by Digi TV (RCS/RDS), Dolce (Romtelecom), Focus Sat (UPC) and Akta (DCS).