Colombia’s Red Intercable TV asks programmers to pay for their channels in pesos rather than dollars

PAY TV / BUSINESS

Telco business providers of television service request that the payment of content rights be in Colombian pesos due to the devaluation of the Colombian peso against the dollar

Lorena Angarita durante ANDINALINK 2020

In view of the global economic situation and the devaluation of the Colombian peso in relation to the dollar above $ 4,000 (Four thousand pesos), the organization RED INTERCABLE TV COLOMBIA, in response to the request made by the allied members of the telecommunications industry, television service providers, placed last Thursday on the table, the proposal to the programmers (international channels) and their representatives in Colombia, so that it is established that the payment for rights to these signals be paid in Colombian pesos.

“Such a large increase in the price of the dollar leads the companies providing the Colombian television service to an unsustainable situation that would lead to chaos and a total crisis that would not only affect them in the payment of said rights, but in the fact of being able to continue complying with the obligations of the contracts already signed with them” said Lorena Angarita, journalist and founder-president of Red Intercable TV of Colombia.

“Aware that this is a decision that cannot be taken unilaterally by the representatives in Colombia, we appreciate the handling of this application and where we are willing through this organization to support the information that is necessary from us so that this request can be taken into account and we can, as an industry, face the global crisis, which is no stranger in our homeland,” Angarita said in the statement.

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