Malaysian billionaire and T. Ananda Krishnan has seized an opportunity created by the government’s proposed national broadband network.
Krishnan has taken a significant stake in internet-delivered TV company Fetch TV, which is expected to launch in Australia early next year. Former ACP Magazines chief and Optus executive Scott Lorson, and telco executive Simon Cathcart, are believed to be fronting Fetch TV Australia, which is expected to begin to test low-cost pay-TV as well as on-demand TV and movie services.
The business model relies on signing up a number of second and third-tier telcos and internet service providers. These would on-sell Fetch TV’s internet-enabled set-top box and video content to their broadband customers. That would enable smaller ISPs to compete directly with the Tbox unveiled by Telstra last week.