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Canal+ Group Buys Stake In African TV Production Company Marodi TV
Canal+ Group has acquired a stake in Marodi TV, a Senegalese production company which is a leading purveyor of TV series across ...
Tuesday, March 12, 2024
Developing Story: MultiChoice Bids Farewell To Both M-Net Essentials (Me) And 1Magic On DStv By The End Of March
Thursday, March 7, 2024
Could WildEarth Also Be Looking To Exit DStv As Broadcaster Hints At A Streamlined Portfolio?
Viewers across Africa! We need your help with this hugely important survey. Link in the comments below.
Posted by Wildearth on Saturday, December 16, 2023
Development Alert: Arise News Coming Soon To DStv And GOtv In More African Countries
Tuesday, March 5, 2024
Development Alert: Canal Plus Increases Offer To Buy MultiChoice For R35.9 Billion
Canal+ also recently increased its stake in the group to over 35% from 31.7%, just above a threshold requiring the company to make a mandatory offer to shareholders. Complicating matters, however, is the fact that SA's Electronic Communications Act of 2005 limits foreign ownership of local broadcast licences. This means Canal+ can increase its shareholding in MultiChoice to any level, but its voting rights are limited to a maximum of 20%.
MultiChoice then applied to the regulator to make a ruling on whether an offer must be made, with deputy executive director Zando Ntuli concluding in a ruling that it must.
Canal+, whose parent is Vivendi, operates in 50 countries across Europe, Africa and Asia, directly serving 8 million customers in Africa. It had about 25 million total subscribers as of its 2023 year, while MultiChoice had 23.5 million.