Showtime, Orbit confirm merger
August 14, 2009
The pay-TV merger between Showtime Arabia and rival Orbit has concluded.
The deal was announced last month, although no official valuation was given. Showtime Arabia had reportedly bought out its Viacom minority partner in its Gulf-DTH operation. Kipco, an investment vehicle ultimately controlled by the Kuwait royal family which already controlled 75.3% of Gulf-DTH.