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Satcaster sets IPO

World Brief

Jordan’s first private satcaster is going public. The Jordanian Co. for Television Broadcasting (ATV) will be the Mideast’s first pan-Arab satcaster to become a public shareholding company.

“This is a pioneering step on a regional level, aimed to enable the viewer and make him play a decisive role in the station,” said ATV chairman Mohammed Alayyan.

The 33-year-old Alayyan, scion of a wealthy Jordanian family, is shelling out some $20 million of his own coin for the startup. ATV was established as a limited liability entity in 2004.

Execs at the channel have been piloting broadcasts, with news staff participating in training workshops in Germany, France and Denmark ahead of the launch later this year. Channel will offer news and entertainment. ATV will air on a terrestrial platform in Jordan and as a satcaster across the Arab world.

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