See What Sanusi Has Done To HiTV. They've Lost Premiership Rights! Painful! - Politics (2) - Nairaland
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| Re: See What Sanusi Has Done To HiTV. They've Lost Premiership Rights! Painful! by Ibime(m): 9:57pm On Jul 23, 2010 |
Why did HiTV have guarantee of payment in the next 4 days? Perhaps someone forgot to submit their loan application in time? |
| Re: See What Sanusi Has Done To HiTV. They've Lost Premiership Rights! Painful! by Nobody: 10:01pm On Jul 23, 2010 |
paddy_lo: Exactly my point. When we were growing up, Notorious BIG, Tupac Shakur, LL Cool J, Snoop do.g.g.y Dog, Fugees . . . this were the names we knew in music as boys growing up. Do you know what the current generation of kids know? along side the foreign stars they also know D'banj, P-Square, Tuface Idibia. I think this is an improvement and the success achieved in the music industry in Nigeria can be repeated in sports. Why can't I be a fan of both Man Utd and Enyimba. Why are'nt both available on my TV? Why are we exclusive fans of premier league and shipping money overseas in the name of EPL. I honestly do not feel sorry for HiTV. |
| Re: See What Sanusi Has Done To HiTV. They've Lost Premiership Rights! Painful! by PapaBrowne(m): 10:01pm On Jul 23, 2010 |
mikeansy: Even if money is spent on our local league, nobody is gonna watch them. The league standard is so low. Match fixing is normalcy. The premiership is a hotcake the world over. Even in countries with very strong local leagues, premirship is still as hot. HiTV was never going to stand a chance against DSTV without the EPL rights. I wonder how they would survive this one, especially with the loss of $40 million bid deposit. I hope it really is a blessing in disguise. |
| Re: See What Sanusi Has Done To HiTV. They've Lost Premiership Rights! Painful! by PapaBrowne(m): 10:10pm On Jul 23, 2010 |
Ibime: GT Bank has equity in HiTV. They knew what was at stake and must have wanted so badly to just push the money out to HiTV quickly. But that is where the Sanusi factor comes in. They guy has criminalized risk taking. The industry is afraid to take bold steps. Bank Gurantees shouldn't be a problem for something as lucrative as the premiership.The four days was probably needed because some stupid bureaucracies would take time to sort out. |
| Re: See What Sanusi Has Done To HiTV. They've Lost Premiership Rights! Painful! by nex(m): 10:11pm On Jul 23, 2010 |
What is all this nonsense talk? What has Sanusi done to GTB? Are they among the companies taken over by the CBN? They have their partner banks in Europe and I don't see any connection with the CBN. HiTV is a useless cable company. Please don't tell me none of you saw this coming. Right now, DSTV is a more Nigerian station than HiTV. You think they don't know what they were doing when they opened their Nigerian studios and put Charles Anazodo there? I thought Toyin Subair had a plan to counter them. How many Nigerian sporting programs does HiTV cover? Do they even consider that there's an NPL. Go to HiTV headquarters and see what rubbish touting goes on there. I was there some years ago in Ebute Metta and I reported the crap I observed there on Nairaland. If HiTV paid $40 million, what was keeping them from the remainder till the deadline passed? Sanusi? No. It was the 11th hour tradition of the Nigerian factor. HiTV was meant to have used its opportunity of monopoly of the EPL to develop its other stations and win customers, but they refused to. At least even when DSTV lost the bid some years back, they still had subscribers. Let's see how many people will subscribe to HiTV just to watch Nigezie, Hi Nolly and BET. They failed on their own because of lack of business acumen and nothing else. If they paid less $40 million for the EPL package 4 years ago and cannot deposit $100 million at the recent deadline, then maybe the business is not profitable to them. They should quit! Everything Sanusi, Sanusi, Sanusi. The Nigerian man whose wife gave birth to a blonde in the UK will soon blame Sanusi! |
| Re: See What Sanusi Has Done To HiTV. They've Lost Premiership Rights! Painful! by PapaBrowne(m): 10:19pm On Jul 23, 2010 |
paddy_lo: You are right in the context you've spoken. I hate Nigeria's extreme fixation on premiership. I stopped watching premiership religiously when Mourinho left. I strongly believe more home based programming should be developed. HiTV had actually begun to do just that. They bought over Tinapa studios to help in enhancing the quality of content in the industry. However, the blame on Sanusi is the negative impact he is having on the ability of Nigerian companies to compete favourably. The crux of the matter is that Sanusi's actions in the CBN have compounded liquidity problems for many Nigerian entrepreneurs and this one is an obvious example. |
| Re: See What Sanusi Has Done To HiTV. They've Lost Premiership Rights! Painful! by Ibime(m): 10:32pm On Jul 23, 2010 |
PapaBrowne: What you mean to say is that they must have started going through the process at the 11th hour and missed the deadline though their own incompetency/lateness/credit unworthiness? |
| Re: See What Sanusi Has Done To HiTV. They've Lost Premiership Rights! Painful! by PapaBrowne(m): 10:39pm On Jul 23, 2010 |
Ibime: Well, given the turmoil Sanusi created in the banking sector, even if they started going through the process in the 3rd hour, theY probably would still have fallen short. The fault is not their but GTs. To think of of it, the only reason DSTV had $100 million cash, wash because of the bounty they ripped off the world cup. Before the world cup, they wouldn't have had that kind of money. |
| Re: See What Sanusi Has Done To HiTV. They've Lost Premiership Rights! Painful! by invisible2(m): 10:55pm On Jul 23, 2010 |
For those that love Enyimba and Rangers playing on bald, dusty piches and running on empty stomach because someone forgot to pay their salaries and its only ice block and panadol in the first aid box, well, go and watch tbem in the unsafe stadia where you could be robbed of your phone and money in the full glare of helpless policemen. Allow us to watch the only thing that makes us forget, for two hours that we are so useless as a nation. |
| Re: See What Sanusi Has Done To HiTV. They've Lost Premiership Rights! Painful! by Ibime(m): 11:28pm On Jul 23, 2010 |
PapaBrowne: Im sure DSTV would have the $100m regardless. . . . they should be in almost every country in Africa. . .it seems every hotel/bar in Africa has DSTV subscription. . . . I for one rate their SuperSports channel as the best sports channel out there, even better than the European sports channels. |
| Re: See What Sanusi Has Done To HiTV. They've Lost Premiership Rights! Painful! by demzade: 12:19am On Jul 24, 2010 |
@Nex Well said Bruv, That caps it all up We cannot organize ourselves as Nigerians to do what is Right, the irresponsible culture we have will keep us making mistakes that will cost us. Hitv is irresponsible they have done much less to EVEN encourage local content nor did they develop other channels. All they concentrated on was to step on the joints and clubs who subscribe to them. They have themselves to blame for all the losses they'll incure. |
| Re: See What Sanusi Has Done To HiTV. They've Lost Premiership Rights! Painful! by nex(m): 10:00am On Jul 24, 2010 |
@Invisible Be careful the way you use the name of my team. Whoever told you that Eyimba players are running around on empty stomachs has mental issues. You watch the English Premier League and enjoy it so much without knowing why the English follow it so keenly. You just follow like Zombies. I even see some of you now wearing mufflers in the blazing Nigerian sun. Colomentality. @demzade @demzade Just my analysis. |
| Re: See What Sanusi Has Done To HiTV. They've Lost Premiership Rights! Painful! by asha80(m): 10:15am On Jul 24, 2010 |
nex:    |
| Re: See What Sanusi Has Done To HiTV. They've Lost Premiership Rights! Painful! by Nobody: 11:22am On Jul 24, 2010 |
believ it or not more nigerians would actually be happy about this development. dstv already had a large customer base before hitv entered the market and most nigerians (including me) where seriously pissed when their epl rights where taken away. aside from the whole epl saga, dstv is more entertaining than hitv if u consider the other channels so most people had to by hitv (just for the football) whilst still paying for dstv and that is so financialy unhealthy. leave all this nigerian sentiments aside, there is no love in business, at the end of the day we just want to be entertained no one gives a hoot if its from a nigerian or south african company  |
| Re: See What Sanusi Has Done To HiTV. They've Lost Premiership Rights! Painful! by invisible2(m): 12:26pm On Jul 24, 2010 |
@nex, how much is the sign on fee of an enyimba player? Is it enough to pay a healthy mai guard? Why should we blindly follow the local league with all its negativities, same way we ask for our blind leaders with all their mediocrity. If I have my way, a Brit will be ruling Nigeria by now! |
| Re: See What Sanusi Has Done To HiTV. They've Lost Premiership Rights! Painful! by Gadols(f): 12:36pm On Jul 24, 2010 |
Though this is a sad development, lets not whip sentiments and blame a third party for this. What has sanusi got to do with this? |
| Re: See What Sanusi Has Done To HiTV. They've Lost Premiership Rights! Painful! by folem: 12:42pm On Jul 24, 2010 |
PapaBrowne: DSTV was not paying for a market that had not yet been created. 4 Years ago there was no Nigeria market for EPL rights. The market then was Sub-Saharan Africa (which Nigeria was a part of) market. The entry of HiTV and BON into EPL rebroadcasts forced the EPL to create a Nigeria market and hence more money to the English. Let us develop our own league with good facilities and create more employment opportunities for our folks. |
| Re: See What Sanusi Has Done To HiTV. They've Lost Premiership Rights! Painful! by naijatoday: 6:40pm On Jul 24, 2010 |
PapaBrowne: Do you know who DSTV's majority shareholder is? Naspers. Raising $100 million will not have been a problem . http://www.naspers.co.za/index.cfm?content=2641&intParentContentID=2636¤tpage=2641 The thing is what took HiTV this long to raise the $100 million? HiTV won the rights for nearly 2 years now and Sanusi only came in last year. |
| Re: See What Sanusi Has Done To HiTV. They've Lost Premiership Rights! Painful! by PapaBrowne(m): 9:04pm On Jul 24, 2010 |
naijatoday: First, the bid in question took place just a few months ago. The one of two years ago has expired. This is a fresh bid with the rights starting in August.Sanusi comes into the equation because he criminalised risk taking. Sanusi's nonsensical risk management rules made it impossible for GT to raise bank guarantees b4 the deadline. As per DSTV, raising $100 million just to protect one market in over 30 in which they operate in is by any standard a big deal. It doesn't matter that they are owned by Napzers. If they had that kind of money to dole on Nigeria before the world cup, they would have upped their bid. But they bid far less and HiTV beat them to it. Truth is, the $100 million doesn't quite make business sense. Because in the 3 seasons the rights last, they wouldn't collect subscriptions worth N15 billion. |
| Re: See What Sanusi Has Done To HiTV. They've Lost Premiership Rights! Painful! by adconline(m): 9:44pm On Jul 24, 2010 |
How is Sanusi connected to this? Adenuga first lost about $150 million through CIL in the first GSM licensing auction in Naija. A good company should have secured bank guarrantee before putting in their application. HITV knew that their contract was due for renewal. Normal Naija way of doing little and hoping that miracle would happen. It's like buying an expensive designer's suit for you first day at work while you have not scaled through the final interview. Enough of these sentiments please. I would take ABC Transport over Greyhound bus to take me on lagos Abuja route and would take Delta Air over Arik Air to take me on Lagos New York route. The best performer won in this fight. Kapish!! |
| Re: See What Sanusi Has Done To HiTV. They've Lost Premiership Rights! Painful! by chidichris(m): 12:30pm On Jul 25, 2010 |
if we want to tell ourselves the truth, we will say hitv are simply incompetent. they are a limited liability company whose primary objective is to maximize profit at the end of the day so why is their failure a national issue? they lack quality and leadership/managment is their problem like nigeria itself. if u know u are in a competition with a bigger company like multichoice, u shld be over prepared. loosing epl is as simple as loosing that station because that is all they have got. |
| Re: See What Sanusi Has Done To HiTV. They've Lost Premiership Rights! Painful! by folem: 9:35am On Jul 26, 2010 |
PapaBrowne: Getting subscriptions to pay for that huge outlay is possible although difficult. With roughly 180,000 EPL subscribers In Nigeria paying US$60/month for a net period of 27 months will generate nearly US$ 292 Million and there will also be income form advertising and hotels/viewing centers. |
| Re: See What Sanusi Has Done To HiTV. They've Lost Premiership Rights! Painful! by lagoshost(m): 10:53am On Jul 26, 2010 |
If you currently run a business anywhere in Nigeria, you will understand what it means to get money from a Nigerian Bank!. Who will save our land? |
| Re: See What Sanusi Has Done To HiTV. They've Lost Premiership Rights! Painful! by wirinet(m): 10:54am On Jul 26, 2010 |
My two cents, I think HiTV were operating on a faulty business model, and would have eventually run into huge problems. First putting their whole eggs in the EPL basket is unsustainable. second, their services were becoming very poor and most of their customers were becoming unsatisfied with their services. Most people were forced to keep both HiTV and DSTV and only pay subscription fees to DSTV during the EPL season. Finally i believe most people were starting subscribe to DSTV Ghana to be able to get EPL and DSTV in one decoder instead of the expensive venture of subscribing to two decoders, so eventually HiTV would still have lost a huge chunk of the market to DSTV even if they got the EPL rights. If HiTV could raise $292 million dollars in 27 months minus advertisements and hotel/viewing centers, why were not able to raise such funds within the last 27 months and pay the $100million. I feel they were in trouble even when they were paying considerably less for the rights, because they had stooped very low and started attacking card board built viewing centres with police and besides a lot of times the matches themselves were relayed late or not relayed at all. I think people should praise Sanusi instead of blaming him, he has ensured that proper risk management is carried out before lending depositors money (OUR MONEY) out to risky businesses. And to me HitV was operating a risky business. DSTV on the other hand have many programmes in many countries, and covers so many other sporting events, so they could really loose no sleep on EPL. In fact, they could decide to crush the "competition" (HiTV)easily by getting EPL at all cost |
| Re: See What Sanusi Has Done To HiTV. They've Lost Premiership Rights! Painful! by wirinet(m): 11:02am On Jul 26, 2010 |
lagoshost: My brother that problem did not start today, it had always been difficult getting money to start and run a business in Nigeria. It was just that money was doled out to stock market gamblers - sorry speculators, and friends and families of bank MDs in the last dispensation without collateral or viable means of repayment |
| Re: See What Sanusi Has Done To HiTV. They've Lost Premiership Rights! Painful! by tkb417(m): 11:08am On Jul 26, 2010 |
Ibime:DSTV wrote a cheque of 100mills as soon as GTB and Hitv started running like headless chickens im sure HiTV started the whole process at the 11th hour shameful i swear |
| Re: See What Sanusi Has Done To HiTV. They've Lost Premiership Rights! Painful! by snthesis(m): 11:10am On Jul 26, 2010 |
from $4mil to $100mil within 4 yrs haba! 9ja! we like to show ourselves-too much money, too much swaggz |
| Re: See What Sanusi Has Done To HiTV. They've Lost Premiership Rights! Painful! by Nobody: 11:22am On Jul 26, 2010 |
invisible!:kai, lwkmd @the reded words |
| Re: See What Sanusi Has Done To HiTV. They've Lost Premiership Rights! Painful! by kobikwelu(m): 11:27am On Jul 26, 2010 |
hitv, IMHO bit off more than they chewed also, there is a diferrence btw good risk management and NO risk management, because of tsunami sanusi, most banks literary have no risk assets but mehnnn dstv is celebrating as if they won the world cup. its only by God's grace, that hitv would survive this, me thinks they would wind up |
| Re: See What Sanusi Has Done To HiTV. They've Lost Premiership Rights! Painful! by NaijaNaWaa: 11:32am On Jul 26, 2010 |
Too bad for HiTV. I extend my sympathy to them but fact remains that HiTV does not possess the requisite experience and pedigree to run a viable satallite TV network/content. It's as if the only thing in their agenda is the EPL, a product that was developed by DSTV/Multichoice which HiTV snatched from them. Whereas DSTV survived/thrived without EPL for the past few years, it's doubtful if HiTV can last another one year without EPL. This should serve as a lesson to other enterprenuers that one-off chances don't pay. Too bad for HiTV indeed. |
| Re: See What Sanusi Has Done To HiTV. They've Lost Premiership Rights! Painful! by Nobody: 11:44am On Jul 26, 2010 |
b ut come to think of it, this is stealing by trick, $40 million gone just like that |
| Re: See What Sanusi Has Done To HiTV. They've Lost Premiership Rights! Painful! by sley4life(m): 12:10pm On Jul 26, 2010 |
Sanusi has no prob with HITV wahala. HITV were quack in the first place. |
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