No Money: Generations: The Legacy On SABC 1 Might Be Eyeing Potential Cancellation As DA Proposes A Major Overhaul To SABC's Current Business Structure

Through a booklet obtained by local legislation, the Democratic Alliance had put up several proposals on what could most likely be the future of SABC. One of which includes SABC 1 and 2 possibly being positioned like Soweto TV or e.tv with SABC 3 sold.

Few years ago, it was alleged that the public broadcaster would be selling SABC 3 alongside radio stations Metro FM and 5FM. Contributing factors to this included a drop in viewership and the SABC's lack of cash flow but this had been disregarded. 

According to the SABC, the board has approved comprehensive assessment criteria for determining “core media assets”, noting that this includes not only channels which contribute to the public mandate but which also help to fund the SABC’s public service obligations. 

“The Board has already identified noncore property assets and has drawn up a list of properties for disposal, as required by National Treasury preconditions,” the SABC said. 

“The potential disposal of any of the SABC’s media assets involves a much more complex decision matrix, with factors such as the public interest, the public mandate and the future financial sustainability of the SABC being central to any decision.”

Now the public broadcaster faces the risk of possible liquidation as government failed but still ongoing attempts at moving away from analogue would not only leave millions of households without SABC TV signals but a drop in revenue. 

SABC is struggling to retain most of the content viewed on their platforms with Muvhango being the latest soap to have got axed with rumours swirling around that Generations: The Legacy could suffer a similar fate.

After SABC 2 had axed 7de Laan in 2023, the public broadcaster with no replacement in site aired repeats of Vetkoekpaleis with Muvhango airing from the 1st season. Should Generations: The Legacy take the fall consumers might expect a similar fate for this soap.

This would leave SABC 1 as the only channel to offer a long format series with Skeem Saam and Uzalo as Isidingo and The Estate got the boot on SABC 3 years back. Since then, the channel had undergone numerous restructures with no luck viewership wise.

Paramount And Skydance Are Said To Reach A Deal To Merge

Just weeks after Paramount’s controlling shareholder and Skydance abruptly ended merger talks, the two sides have reached a preliminary deal to create a new Hollywood giant, four people familiar with the negotiations said Tuesday.

The agreement will still have to be approved by a special committee of Paramount’s board of directors, said the people, who spoke on the condition of anonymity as talks resumed.

Paramount — the parent company of CBS, MTV and Nickelodeon — and Skydance, the up-and-coming movie studio that helped produce “Top Gun: Maverick,” called off talks in June just before a scheduled vote on a merger. While the two sides had agreed on economic terms, Shari Redstone, Paramount’s controlling shareholder through its parent company, National Amusements, had clashed with Skydance in the final weeks of negotiations.

But the two sides have continued to talk, and now the Paramount board committee will evaluate whether new terms will be sufficiently palatable for shareholders, some of whom pushed back significantly against the last proposed deal. One likely point of focus will be the extent of protection offered to National Amusements in event of shareholder lawsuits.

In this latest deal, National Amusements’ equity would be valued at $1.75 billion, up slightly from $1.7 billion in the transaction’s last incarnation, three of the people said.

Muvhango Reportedly Cancelled After 27 Years On SABC 2 As The Public Broadcaster Fails To Renew The Venda Soap

After an impressive 27-year run, “Muvhango,” the beloved South African TV soap opera, aired its final episode yesterday. The show, known for its compelling storytelling and rich cultural representation, has been a staple in households across the nation.The decision to end “Muvhango” was not made lightly.

According to insiders, a combination of declining viewership and shifts in audience preferences led to the conclusion that it was time to bring the long-running series to a close. Another contributing factor was the public broadcaster's financial constraints. 

Producers expressed their gratitude to loyal fans who have supported the show throughout its journey.”Muvhango” has made a significant impact on South African television, providing a platform for numerous actors and addressing important social issues.

As “Muvhango” bids farewell, its legacy as a groundbreaking and influential show in South African entertainment history will be remembered. Fans were encouraged to tune in tonight for the emotional final episode, marking the end of an era.

SABC 2 will be airing a rebroadcast to the first season in place of the final season as we await details on what the broadcaster's next move will be in accommodating this timeslot. News of its demise was sort of last minute to most media outlets. 

Paramount Global Is In Exclusive Talks To Sell BET For $1.6 Billion

Paramount Global is in exclusive talks to sell its Black Entertainment Television network to buyers that include BET Chief Executive Officer Scott Mills and Chinh Chu, who runs the New York-based private equity firm CC Capital.

The group has been discussing an offer of $1.6 billion to $1.7 billion, people familiar with the matter said, asking not to be named revealing information that’s not public. 

Last year, the same group had discussed an offer of a little under $2 billion, Bloomberg reported in December. Chu and Mills are rekindling discussions with Paramount for BET after Shari Redstone, who has a controlling stake in Paramount, walked away from a proposed merger with Skydance Media, the company led by David Ellison. 

Representatives for Paramount and Chu declined to comment. Mills didn’t respond to a request for comment. The shares jumped on the news and were up 4.2% to $10.56 at 2:28 p.m. in New York.

Paramount, which owns CBS, MTV and other networks, had also previously received an offer from media mogul Byron Allen, who put together a $3.5 billion bid last year for both BET and the VH1 channel, and emphasized that BET should be Black-owned. Actor and filmmaker Tyler Perry, who is an investor in the BET+ streaming service, also held discussions about purchasing a stake in the larger enterprise.

The sale process last year was “disrespectful,” Perry said at a Bloomberg event last year. “Don’t try to get me to pay for something that’s not worth anywhere near the value” Paramount said it was, he said at the time.

Founded in 1980 by businessman Robert L. Johnson, BET was sold to Paramount’s predecessor, Viacom, in 2001 for about $3 billion. The network has strong ties to some of the most successful Black entertainment creators, including Perry, Kenya Barris and Rashida Jones, who are investors in the BET Studios production company.

Paramount has said it’s working to cut $500 million in costs to boost profitability. 

Barry Diller's IAC Is Exploring A Bid To Take Control of Paramount Global

Media mogul Barry Diller is taking a look at acquiring National Amusements Inc., the company owned by Shari Redstone and the controlling shareholder of Paramount, CNBC reported on Tuesday.

Diller's IAC, an internet media and publishing company, has signed a nondisclosure agreement and is looking in the data room of National Amusements, Faber said Tuesday. IAC could make a decision in the near term to place a bid on National Amusements, which would give it a controlling stake in Paramount, he said, citing sources.

These discussions come weeks after National Amusements stopped talks with Skydance on a proposed merger with Paramount.

Following months of deal talks with a consortium that included David Ellison's Skydance and private equity firms RedBird Capital and KKR, the deal was called off as it awaited signoff from Redstone. National Amusements, which Redstone controls, holds 77% of class A Paramount shares.

Prior to calling off the proposed merger, National Amusements had agreed to financial terms of the deal. The proposed deal would have seen Redstone receive $2 billion for National Amusements, with Skydance buying out nearly 50% of class B Paramount shares at $15 apiece, or $4.5 billion. Skydance and RedBird had also agreed to contribute $1.5 billion in cash to Paramount's balance sheet to help reduce debt.

Terms of IAC's potential bid are unknown, but it would likely have to be more than $2 billion, Faber reported Tuesday. The New York Times first reported Diller's interest in Paramount.

While Diller, 82, is currently the chairman of IAC and Expedia, he has a long track record in the media industry, including serving as chairman and CEO of Paramount Pictures in the 1970s and 1980s. He followed Paramount with his post at the head of 20th Century Fox, where he greenlit Fox network programs including "The Simpsons."

Diller has been vocal about the need for legacy media companies such as Paramount to give up on chasing Netflix in the streaming wars and focus on their broadcast and pay-TV networks.

During the Hollywood strikes last summer, he said that despite cord cutting, traditional pay-TV is still profitable — unlike most streaming businesses. He called on legacy media to build up traditional networks again.

Diller tried to acquire Paramount Pictures in the 1990s, but went toe-to-toe with Sumner Redstone, the father of Shari Redstone, who now controls the company.

Since then, Paramount has changed and grown in various ways. The company now comprises the movie studio, as well as the CBS broadcast network, a portfolio of cable TV networks such as MTV and BET plus streaming services Paramount+ and Pluto.

While other suitors have reportedly been interested in owning Paramount, the company has been focused on restructuring its business.

Now led by the so-called Office of the CEO — CBS CEO George Cheeks, Paramount Media Networks CEO Chris McCarthy and Paramount Pictures CEO Brian Robbins — Paramount has concentrated on exploring streaming joint venture opportunities with other media companies, slashing $500 million in costs and divesting noncore assets.