StarTimes: Pay-TV Operator In Trouble Over $11 Million Debt

Chinese-owned Pay-TV Operator Startimes faces the risk of being dissolved via court mandate over a debt of $11 million.

According to reports, StarTimes Media has repeatedly failed to pay for sports rights to the BeIn Media Group concerning the French football Ligue 1, making the latter company initiate a wind-up of StarTimes unless it pays the debt.

GlobalData Sports reveals that StarTimes presently owes upwards of $11 million to BeIn Media Group. The information was obtained from the court petition filed by the media group.

The report also suggested that both BeIn Media Group and StarTimes have being involved in some forms of arbitration in an attempt to resolve their issues. Despite this, StarTimes has reportedly continued to renege to the payment agreements reached, citing the "tough economic climate in Africa."

Deciding that it had no other choice, BeIn Media Group took the issue to court as StarTimes' continued announcement of more sports rights acquisition in the past year has only provoked them further.

A source close to the legal proceedings is quoted by GlobalData Sports as saying, "It should be a huge concern to the industry that an entity facing winding-up proceedings is in the same breath, parading around the world signing deals with much fanfare."

"We've seen this kind of conduct before, and it only ends badly for rights-holders and the industry."