Ginx eSports TV Reportedly Up For Sale, Could The Channel Go Dark On The DStv Platform?

The Esports Advocate can exclusively report that London-based gaming and esports media company Ginx TV Ltd. is exploring an acquisition or further investment and is being represented by London-based venture capital and private equity firm Capital A. In a perfect scenario—according to what is being pitched to VCs—an investor would acquire the company, keep its full-time staff intact (it lists 21 full-time employees and 17+ people in outsourced roles)— and leave the day-to-day operations in the hands of the current CEO, Michiel Bakker.

According to a document obtained by TEA being shared by Capital A to potential VCs, the unnamed esports media group (which TEA has confirmed is Ginx) is based in London, specializes in “creating and monetizing cross-platform (TV & digital) esports and gaming content,” and is “available to acquire.” Metadata from the document describes it as “GinxTV – Teaser V2” and lists multiple Capital A employees as points of contact.

It also notes that the company’s “experienced hires” have “near full autonomy on a day-to-day basis,” and that the “CEO is looking to stay,” which is a selling point to attract investors who would have concerns that leadership and staff might leave after an acquisition.

Finally, the document notes that the company has its own production arm, which it uses to produce a variety of video and provide content creation services for clients such as “publishers, brands and esports organizations.”

Ginx TV Ltd. CEO Michiel Bakker issued the following statement to TEA on Friday morning via email: “Ginx is always working on its capital structure alongside growing the company. We have built a profitable gaming/esports business with diverse, predictable, and recurring revenue streams. As Ginx becomes increasingly global and digital, as opposed to being a pure-play TV company, we are currently looking to bring on board investors that are aligned with that trajectory and can help us accelerate our growth. We are involved in several discussions, but I am not at liberty to disclose detail.”

Ginx has raised capital from a number of sources over the years including £569.1K ($679K USD) in December of 2015 through an equity crowdfunding campaign with Crowdcube, and undisclosed investments in September of 2016 from UK-based terrestrial TV networks Sky and ITV, who both took “significant minority stakes in the company.”

While Bakker claims that Ginx is a profitable business, the company realized losses of £162.9K ($194.3K) in 2020 and £263.1K ($313.9K) in 2021, according to public filings—Ginx has yet to file its FY 2022 financial report as of this writing. All told, the company has spent approximately £9.99M ($11.86M) since 2010. It is important to note that, due to the British company reporting requirements, a balance sheet loss does not necessarily contradict Bakker’s profitability claim. It should also be noted that the materials obtained by TEA, estimate that the company generated revenue of £2.2M, or $2.5M for FY 2022.

Credits: James Fudge

Canal+ Increase Their Stake In MultiChoice Again To 31,7%

France’s Canal+ Group has again upped its stake in South Africa’s MultiChoice pay-TV operation.

Canal+ now owns 31.7 per cent of MultiChoice which is itself listed on the Johannesburg Stock Exchange. MultiChoice operates the DStv, SuperSport and Showmax pay-TV options for African viewers.

Canal+ is itself controlled by Vivendi.

The new stake is up from 30.3 per cent revealed on February 10th.

MultiChoice CEO Calvo Mawela is on record as saying that the two businesses have regular conversations as to areas of collaboration.

The history of Canal+ and its involvement in MultiChoice is one of steady involvement since 2020. In September 2022, it raised its holdings from the previous 20.1 per cent to 26.3 per cent, and then again increased its stake to 30.3 per cent in February 2023.

However, there are local rules in South Africa which limit foreign ownership of local broadcasters. The maximum shareholding threshold for Canal+ is 35 per cent and which could then require it makes a mandatory offer to buy out other shareholders.

Another potential problem is that Vivendi/Canal+ have already breached a 20 per cent limit on foreign ownership of a local broadcaster.

Ginx eSports TV CEO Steps Down After 13 Years

Long-time CEO of gaming media company Ginx TV Michiel Bakker has announced his departure and is set to leave the company at the end of June.

Bakker made the announcement via LinkedIn, and while he did not share any future plans, he did mention that he is leaving the company with “mixed emotions.”

Founded in 2007, Ginx TV is a media company based in the United Kingdom. The company is known for its television channel, one of the world’s first TV channels focused strictly on gaming content. The company’s main channel has been rebranded to Ginx Esports TV in 2016, reflecting a shift towards esports. Apart from television, Ginx operates a gaming and esports news website, Ginx.tv.

Michiel Bakker first joined Ginx TV when the company was only three years old, in 2010. During his time at the company, Ginx has partnered with numerous esports, gaming, and other brands, and became an international company with a presence in many countries.

Bakker did not explain the exact reasons for his departure, but he did note that it is “high time for a fresh perspective, new ideas, and someone else to take the reins” of the media company. He added that change is a vital part of progress, and that he is proud of the work he did during his time at Ginx.

Ginx TV did not share news of Bakker’s replacement, but he did say that he is now “embarking on a new chapter in life.”

Bakker said the following via social media: “After an incredible 13-year journey at Ginx TV Ltd, it is with mixed emotions that I announce my departure from the company at the end of this month. It has been an honour and a privilege to serve as the CEO of Ginx, and I am immensely proud of what we have achieved together.

“One of the most important lessons I have learned in my professional career is that change is vital for growth and progress. It is high time for a fresh perspective, new ideas, and someone else to take the reins.”

New Series Alert: Net 20 Minute Is Currently Streaming On eVOD

Net 20 Minutes (20 Dakika) tells the story of a mild-mannered history teacher. Ali, who is thrown into a World of action and intrigue when his beloved wife Melek is arrested for the attempted murder of a young man. Ali must abandon his books and find inner strength and courage that he did not know he had in order to free his wife and reclaim his family life. 

Set in Turkey, 20 Minutes was inspired by the 2010 American film The Next Three Days and starred Tuba Büyüküstün and İlker Aksum in leading roles. Star TV served as broadcaster when the series was broadcast in 2013.

Since it's debut, the Emmy nominated series had been sold to 55 countries including Bahrain, Algeria, Djibouti, Morocco, Greece, Romania, Poland, Palestine, Iraq, Iran, Qatar, Kuwait, Libya, Lebanon, Egypt, Mauritania, Somali, Sudan, Syria, Saudi Arabia and South Africa.

Unlike Die Put and Annekan Die Swa Kry, 20 Minutes falls under the international tile of the eVOD streaming service. It is also the first exclusive show to be seen on the platform as the latter such as K-2 and Flowers Of Evil had been made available to eXposed days prior.

It is currently unknown on whether eMedia Investments will ever intend to make 20 Minutes accessible on more platforms. For now, it's currently streaming on Netflix and as mentioned eVOD and the only known linear platform to have aired it is Timeless Dizi Channel.

Update: the series is part of Kuiertyd under Net 20 Minute someone needs to be fired for the choice in title.

Development Alert: Boomerang In The Middle East, North Africa And Asia To Become Cartoonito

Cartoonito is the leading destination owned by Warner Bros. Discovery which distributes a variety of preschool content in the form of programming blocks across various Cartoon Network and Boomerang channels alongside standalone services.

During the year, Warner Bros. Discovery had been phasing out several Boomerang feeds across the world. Of course, there was various feeds which have yet to switchover to Cartoonito with the latter continuing to supply select content such as Batwheels and Interstellar Ella.

In the recent weeks, it had confirmed by Warner Bros. Discovery within the regions particularly MENA and Asia particularly Hong Kong, Taiwan and Southeast Asia, the introduction of Cartoonito from September 4th and July 28th respectively.

According to WBD Asia, the move is “part of a big regional and global commitment by WBD to preschool content.” It follows Cartoonito rebrands and launches in other international territories including EMEA and LatAm.

Boomerang favourites including “Tom & Jerry,” “Baby Looney Tunes,” “Alice & Lewis,” “Pat the Dog” and “Grizzy and the Lemmings” will remain on the channel alongside other series like "Dino Ranch and recent additions Batwheels and Bugs Bunny Builders.

It's currently unknown if MENA will offer a similar lineup as seen in Asia but it's been speculated by various consumers that similar to EMEA. Cartoonito will likely keep Boomerang's remaining programming as WBD EMEA beside managing the brand in Africa also manage these regions.