The new shareholder agreement being prepared for Globo Cabo will include an important novelty: all critical decisions, especially on programming and other related parties, will have to be approved by BNDES or Bradespar (or any other major shareholder from the financial sector that may join in future).
The decision is designed to bolster the confidence of minority shareholders by showing that dealings with related parties will have to be acceptable from the financial standpoint. In the case of programming, Globo will continue to participate in decisions because it?s the strategic player with the most experience in this sphere, but it won?t be able to choose programming for Globo Cabo without the financial appraisal of BNDES or Bradesco.
Meanwhile Globo Cabo has renewed its agreement with Telecine, a suite of movie channels, undertaking to make a down payment of 17 million reals in the fourth quarter and winning benefits expected to save up to 104m reals in the years ahead. Sources say Globo Cabo has the right to choose whether Telecine will remain exclusive.
BNDES
