UTStarcom Launches iTV Media Venture in Spain in Partnership with Mira TV
UTStarcom Holdings (NASDAQ: UTSI) today announced that its partner, iTV Media, Inc. ("iTV Media"), a leading interactive, IP-based network solutions and service provider, will begin deploying its IPTV and video on demand (VOD) services in Spain in January 2013 through a strategic partnership with Mira TV ("Mira TV"). UTStarcom invested in iTV Media in 2010 as part of its strategy to expand into media operational support services and is the single largest shareholder of iTV Media.
Mira TV is one of the leading Over-the-Top ("OTT") IPTV platform providers in Spain and offers over 200 channels on demand with more than 5,000 hours of VOD content. Mira TV's IPTV and VOD services will enable users across Spain to enjoy rich content, including domestic and international channels, anytime and on a broad array of devices. The launch of these services in Spain will provide iTV Media access to approximately 200,000 subscribers by summer 2014.
iTV Media launched an OTT service in 2011 under the brand name iTV.cn to provide Mandarin language programming to Chinese communities in North America. The