Flow seeks approval for two more purchases

21 May 2008

Jamaican cableco Flow has submitted requests for approval of two further acquisitions of rival operators to the Broadcasting Commission, writes BNamericas citing the company’s CEO Richard Pardy. ‘We have two acquisitions before the [broadcasting] commission right now. I would think they will be approved within the next week or so, they’ve had it for about a month now,’ Pardy said without giving the names of the companies. The acquisitions would be Flow’s ninth and tenth in less than two years. The company also recently resolved a dispute with the Broadcasting Commission regarding Flow’s acquisition of Kingston-based cable distribution and internet/telecom company Entertainment Systems in mid-February, Pardy said.

The news raised protests from other cable providers on the island which accused the Commission of favouritism in granting Flow the first island-wide licence and approving what they deem are the company’s ‘predatory advances.’ The supreme court granted an injunction barring Flow from making any further acquisitions stating that Flow was in breach of section 28 of the television and sound broadcasting regulation which forbids changes in ownership or control of cable businesses without the prior approval of the Broadcasting Commission.

Jamaica, Flow (Jamaica)