Nova (Forthnet)

Nova doing business as Forthnet S.A. is a telecommunications company in Greece which provides broadband internet, television and fixed telephony. It also offers satellite services in Cyprus. It is traded on the Athens Stock Exchange.[2]

Forthnet S.A.
Public
Traded asAthex: FORTH
IndustryTelecommunications
Founded1995
FounderFoundation for Research & Technology – Hellas
Minoan Lines
Headquarters
Pallini, Athens
,
Greece
Area served
Greece and Cyprus
Key people
Deepak Srinivas Padmanabhan (Chairman)
Panos Papadopoulos (CEO)
ProductsFixedline telephony
Broadband internet
IPTV
Satellite television
Television production
Pay television
IT services
Revenue€262 million (2019)[1]
€37 million (2019)[1]
€–28 million (2019)[1]
Total assets€355 million (2019)[1]
Total equity€–226 million (2019)[1]
Number of employees
959 (2019)[1]
ParentUnited Group
Websitewww.nova.gr

In June 2016 the services for clients and SMEs were rebranded under the Nova brand.[3] The company gave up Forthnet brand completely in June 2020.

On 29 May 2020 BC Partners's United Group agreed to purchase a majority stake in Nova Forthnet from a consortium of 4 Greek banks.[4] Other shareholders are Wind Hellas with 21%, GO (Malta) (14%) and Massar Investments (14%).

History

Forthnet was established in October 1995 by Minoan Lines SA and the Foundation for Research & Technology - Hellas (Ίδρυμα Τεχνολογίας και Έρευνας, Ι.Τ.Ε), also known as FORTH.

Nova brand was launched in Greece in December 1999 for the satellite television platform by Naspers, a South African company, who also operated Multichoice. In 2002 Nova absorbed the Alpha Digital satellite television platform.[5] On April 14, 2008, Forthnet reached an agreement with Naspers to purchase Netmed, the parent company of Nova satellite television platform in Greece and Cyprus for €430 million.[6]

In 2010, Nova Greece had 363,679 subscribers.[7] HD service counted 52,968 subscribers in 2011.

In the end June 2015 the platform had 509,088 subscribers, while one year later, June 2016 it had a decrease to 460,252.[8]

In July 2017 it was referred that Nova had 430,000 subscribers.[9]

In 2020 Nova had 551,000 broadband internet subbscribers and 457,000 pay television subscribers.

Satellite Technical information

Nova broadcasts in standard definition using the DVB-S MPEG-2 format and (since September 2010) in high definition using the DVB-S MPEG-4 format through Hot Bird 8 satellite at 13°E.[10] The service is encrypted with Irdeto conditional access system. Until recently the subscribers had the option of buying a specific set-top box, or using any DVB-S Irdeto enabled set-top box, but since September 2009 new subscribers are only allowed to use the company's own set-top box. This change of policy has raised some significant controversy.

Nova has also introduced a DVR service, accessible only through a (different) specific set-top box. This service requires an extra subscription fee but also provides the subscriber with the option to watch two different channels on two different TV sets in the same household.

Digital satellite receivers

Nova Satellite Package includes digital satellite receivers manufactured by Pace. The current models are NovaBox HD 831 and NovaBox HD PVR 865. Older models were Panasat 1110, Panasat 910, as well as the older Panasat 720i, Panasat 700 and Panasat 642, manufactured by Panasat.

Nova channels

Nova operates 5 Nova Cinema and 5 Nova Sports premium channels and also sport news channel Nova Sports 24 and entertainment channel Nova Life. Nova Sport channels are also avaiable on Wind and Vodafone in Greece. Since 2012 all Nova channels are available through CytaVision in Cyprus.

Nova Cyprus

Nova has been providing satellite television and internet services in Cyprus since 2004. Most television channels are available, except generalist television channels from Greece which do not have a broadcasting license for Cyprus.

Logos
1995-2007 2007-2017 2017-present

References
  1. https://www.nova.gr/sites/default/files/2020-05/FN_Group%20_2019_Annual_Report_ENG_version_0.pdf Forthnet Anual Report 2019
  2. "helex.gr/Products/Stocks/Company Forthnet". helex.gr. 10 March 2017. Retrieved 10 March 2017.
  3. "Forthnet opts for Nova brand name". broadbandtvnews.com. 25 July 2016.
  4. "Nova-Forthnet changed hands". news247.gr. 30 May 2020.
  5. "Από τη "λύση" στη... συμφωνία". Rizospastis (in Greek). 2002-09-12. Retrieved 2019-08-26.
  6. "Naspers sells NetMed and withdraws Cautionary - Update". rttnews.com. 30 June 2008.
  7. "Greek satellite subs at all time high". Broadband TV News. 2011-04-18. Retrieved 2011-03-17.
  8. "Θηλιά στη συνδρομητική τηλεόραση η κυβερνητική φορολόγηση". digitaltvinfo. 2016-09-05.
  9. "Η ΕΡΤ στήριγμα της κεντρικής διαχείρισης". Cnn Greece. 2017-07-10.
  10. "Eutelsat Hotbird 8". Retrieved 2008-07-07.
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