Asia Satellite Telecommunications (AsiaSat), a leading operator of satellites, has moved into content distribution with the acquisition of Hong Kong- and U.K.-based TV distributor Lightning Interna…
The diversification was described by AsiaSat as “a strategic move to expand the company’s services and extend its clients’ reach to global audiences through traditional and new distribution platforms including OTT and FAST.”
The news was disclosed on the first day of the AVIA conference in Hong Kong and on the second day of the Shanghai International Television Festival. Hong Kong-based AsiaSat operates a fleet of six broadcast, telecoms and data satellites. The company delisted from the Hong Kong Stock Exchange in 2019 and had a market valuation of some $2 billion. Since going private, the company has become an indirect joint venture between CITIC Limited, a conglomerate ultimately owned by the Chinese government, and Carlyle Group, a leading U.S. financial services corporation.
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