Kim Penstone talks to Peter van den Steen, the man appointed to save TopTV from bottoming out.
On October 31 last year, TopTV sought business rescue protection under Chapter 6 of the 2008 Companies Act. What this means to TopTV is that it provides the company with a protective bubble within which to restructure itself and hopefully avoid liquidation. What it means to the media industry is that the local Pay TV sector could once again become a monopoly dominated by Naspers-owned DSTV. What it means to court-appointed Business Rescue Practitioner, Peter van den Steen, is that there is a lot of work to be done, because it is in the public’s interest that TopTV lives to broadcast another day.
And, we hasten to add, that’s not just because TopTV has resubmitted its application to broadcast adult content in South Africa!