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Source: PACIFIC BROADCASTING
Pacific Broadcasting Services (PBS) satellite transmission would be turned off by Price Water House, the receivers of City West Group this week.
City West Group has been supporting PBS’ operations in the past years.
PBS chief executive, Simon Peter Fong, said this would mean the continuation of PBS’ operation in Fiji will end.
This is even though the company’s board meeting of shareholders which was scheduled for the end of the month to decide the fate of PBS’ operations is yet to take place.
“We apologise to our valued customers for not being able to give answers over the past week and a half when some channels were lost as the company was legally bound to wait for an official answer from the receivers in Sydney on the business and outcomes from the pending shareholder‘s meeting,” he said.
PBS stopped its billing of customers last Thursday July 5, 2012.
The company has not made a profit since it began its operations in Fiji from November 2004.
“However and unfortunately, amidst the millions of dollars that were put into PBS’ business, the goals of its shareholders to have a viable business that will provide Fiji with the highest quality and competitive Pay TV service for the country and its people, PBS just could not survive the harsh economic times and operating conditions in Fiji alone.”
The process for a voluntary windup will now take place and creditors will be notified accordingly.
“We sincerely thank our customers and Fiji for accepting us into your homes over the years and we hope that someone visionary will take the baton and fill the void left behind by us,” he said.