MM Grupp, an investment company owned by businessmen Margus Linnamäe and Ivar Vendelin, sold streaming service provider Apollo TV to TV Play Baltics (formerly ViaSat). The deal, however, did not include the high-speed internet service, which Apollo TV began offering its customers in June this year.
Apollo TV, which is registered under the company name OMG TV OÜ AS, will be offered by Go3 to its existing customers, from December 1, with the exception of those who are already subscribed to Apollo TV's ultra-fast fiber optic internet service.
"For (those customers), the internet provider will not change, because this was not part of the deal," Kristel Aarna, head of TV Play Baltics, told ERR.
Earlier this summer, Apollo TV launched a new service, promising to provide customers with internet access at unlimited speeds and lower prices than its competitors. The service was initially made available to 2,500 households, with plans to expand gradually. However, the original focus was not on doing so in larger cities.
According to Aarna, the rationale behind TV Play's buying of Apollo TV was that both Go3 and Apollo TV offer next generation TV services, which they want to continue to develop in the future.
"We will continue to deliver selected content produced by Duo Media, which will be available exclusively on Go3, from as early as next year. In addition to films and TV series, Kanal 2 VOD (Video on Demand) content will also be available to Go3 viewers in Estonia," Aarna added.
Explaining the decision to sell Apollo TV, MM Group board member Kristel Volver said, that the company's focus is on growing its core business against the backdrop of a changing economic environment.
"Go3 and Apollo TV have been operating on similar principles in the market, with the aim of offering next generation TV services. This was also the reason why we decided to sell the Apollo TV business to Go3," said Volver.
According to the parties involved in the transaction, no approval from the Competition Authority was required.
Editor: Michael Cole