A partial share transfer involving majority ownership in a local company that holds an Information and Communications Technology Authority licence could potentially lead to competition in the Cayman Islands’ subscription television market.
According to ICTA records made public on 19 December, Infinity Broadband Ltd. has requested the authority’s consent to transfer 51 per cent of its shares to Camber Holdings Ltd., a company incorporated in the British Virgin Islands.
Infinity Broadband holds a current ICTA licence in Cayman, which was approved in December 2004, according to records on the ICTA’s website.
Licence-holder Randy Merren was contacted by the Caymanian Compass this week, but declined to comment on the matter, saying the proposed shares transfer was pending before the ICTA board.
Publicly available records on the authority website note that services allowed under the licence currently held by Infinity Broadband include: Internet telephony, public service TV broadcasting, subscription TV broadcasting, and Internet service.
The licence also authorises Infinity to operate ICT networks including fixed wire lines, broadcast network, domestic fibre optic cable, and satellite international.
All services and operational licences are for a term of 15 years from the date of the licence grant, according to ICTA records.
Conditions set upon the Infinity Broadband licence, which has never been used according to ICTA officials, requires the licensee to provide a public television service 24 hours a day, seven days a week. A studio constructed for that local content programming would also be required under the licence.
“Programme content shall, at a minimum, be 30 per cent local content which shall include such items as local talk shows, educational, cultural and religious programming, live sporting events, government information services and live coverage of the proceedings of the legislature,” annex conditions in the licence state.
ICTA officials also declined to comment on the share transfer application.