Canal+ Looking To Acquire Comcast's Stake In Showmax

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Canal+ is mulling the possibility of buying out the remaining stake in African streaming platform, Showmax, from Comcast Corporation.

According to Bloomberg, this is part of efforts by the French media firm to consolidate its operations on the continent after it bought controlling stakes in Multichoice, the owners of GOtv and DStv, which owns the rest of Showmax.

Currently, the company is working with advisers on the potential purchase of Comcast’s 30 per cent stake in Showmax, which is the largest streaming platform in Africa.

The people familiar with discussions also told the publication that the considerations are preliminary and there’s no guarantee they would lead to a transaction.

Comcast acquired the stake in Showmax from MultiChoice through its NBCUniversal unit in 2023, and relaunched the streaming service last year on its Peacock streaming platform.

An acquisition could offer support to Showmax which competes with other large streaming services such as Netflix and Amazon’s Prime on the continent. Unlike the latter duo, Showmax is only available in Africa with a presence in 44 countries including Nigeria.

Canal+ is moving ahead with its plans for a secondary inward listing on South Africa’s Johannesburg Stock Exchange (JSE) after taking full control of Showmax’s owner MultiChoice last month.

Canal+ now holds 94.39 per cent of MultiChoice’s shares and will acquire the remaining stake under Section 124(1) of South Africa’s Companies Act, which permits compulsory acquisition when an offer has been accepted by shareholders holding more than 90 per cent of target shares.

MultiChoice shares will be suspended from trading on JSE and A2X beginning Monday, October 27, with complete delisting expected on December 10, subject to regulatory approvals.

Remaining MultiChoice shareholders have until December 5 to exercise their rights to apply to a court regarding the acquisition. After this date, Canal+ will proceed with the compulsory purchase at the same terms and consideration as the original offer.

The transaction has received necessary regulatory approvals, including from South Africa’s Financial Surveillance Department.

The payment to remaining shareholders will be made on December 5, with unclaimed funds held in trust according to legal requirements.

Padamati's Love Story Coming Soon To Zee One

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Zee One, an English dubbed Bollywood based entertainment channel operated by Zee Entertainment Enterprises is set rollout a new Tamil series called Padamati's Love Story. Known in India as Sandhya Raagam, it serves as a remake to Padamati Sandhya Raagam.

Synopsis for Padamati's Love Story. 

The tale of "Sandhya Raagam" intricately weaves a tapestry of familial bonds, cultural clashes, and personal struggles, all set against the backdrop of love, loss, and redemption. At its core, the narrative revolves around the deep-seated affection shared between Janaki and Sandhiya, siblings raised in the warm embrace of a close-knit family in a quaint small town. Their idyllic existence is shattered when Janaki's marriage to Kishore is overshadowed by his subsequent elopement with Sandhya, sending shockwaves through the entire family.

Despite their abrupt departure to Houston, America, Sandhya persistently seeks to maintain a connection with Janaki, her efforts stymied by the disapproval of her rigid in-laws. Across the ocean, Kishore and Sandhiya find solace in each other's company, birthing a daughter, Maaya, whose upbringing straddles the cultural boundaries of her Indian heritage and American surroundings, her talent in Bharatnatyam a testament to her diverse upbringing.

Tragedy strikes the family when Sandhiya receives a devastating diagnosis of incurable cancer, prompting Janaki to bridge the chasm of estrangement and reunite with her ailing sister.

It starred Sandhya Jagarlamudi as Janaki Raghuram and Antara Swarnakar as Maaya Srinivasan in leading roles.

Padamati's Love Story had been broadcast on Zee Tami from October 9, 2023 and serves as an ongoing drama on the channel. Since it's inception, over 500 half hour episodes had been produced with two adaptations. 

Channel Closure: BET Will Stop Airing In France From 30 November 2025 With Africa Likely To Follow Soon

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During the month, it was reported that Paramount will be closing MTV's international music channels by the end of the year with the US being an exception. As the company is prepping for a round of layoffs affecting 2000 jobs with additional cuts for international shores.

The French version of BET is also scheduled to close on 30 November 2025 in France. Months prior, it was even reported that BET's operations in Africa could also be affected by these strings of cuts.

BET was launched in France a year after it launched as BET International in Africa by 2015. It was black based entertainment channel offering reality shows like Real Husbands Of Hollywood and The Wendy Williams Show alongside dramas like Being Mary Jane and The Oval.

Aside from Africa and France, BET was once available in the UK before Paramount opted to put more emphasis on growing its digital footprint. Following Paramount's buyout by Skydance, this endeavours now affect remaining feeds.

Paramount has remained silent on further updates regarding BET's operations in Africa but if I had to guess the channel could go dark by the end of 2025 or early 2026. BET has a weekday soap Black Gold they could be waiting on that before yanking the channel from Africa.

It wouldn't seem far fetched a stretch I mean that's what happened when The River concluded on 1Magic with Helstorm on FOX. 

Warner Bros. Discovery Puts Itself Up For Sale, Citing Interest From ‘Multiple’ Suitors

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The media giant says it has received “multiple” expressions of interest from potential buyers, indicating that Paramount Skydance is not the only suitor for the media company.

In a Tuesday morning statement, WBD said its board of directors has started a “review of strategic alternatives,” which could result in a sale of the entire company, a continuation of the current plan to split the company into two, or some other outcome.

Paramount has been making overtures to buy all of WBD in advance of the planned split, signaling that a behind-the-scenes bidding war is underway. The WBD board rebuffed the first offer, two people with knowledge of the matter told CNN last week. One of the sources said both sides recognized it was a “lowball” proposal by Paramount’s new CEO, David Ellison.

Paramount has declined to comment on its interest in WBD, but Ellison has kept up the pressure in recent days, the sources said.

Warner Bros. Discovery CEO David Zaslav has been preparing to split the company into two publicly traded halves, believing Warner Bros. (which would house the HBO Max streaming service and the movie studio) and Discovery Global (which would house CNN and other cable channels) will be much more highly valued that way.

WBD may still decide to complete the planned split, but Tuesday’s announcement suggests that other outcomes may be more likely.

Comcast is one of the other media industry heavyweights that is evaluating WBD’s assets, given Warner’s openness to a deal, two people with knowledge of the matter said. A Comcast spokesperson declined to comment.

Wall Street analysts have asserted that both Comcast and Netflix could be interested in the streaming and studios half of WBD, given the iconic brands and shows that the company controls.

Rather than kicking the proverbial tires next year, after the breakup would take effect, suitors are likely to conduct due diligence and consider a bid now, since WBD has said it is open to offers.

“It’s no surprise that the significant value of our portfolio is receiving increased recognition by others in the market,” Zaslav said in a statement. “After receiving interest from multiple parties, we have initiated a comprehensive review of strategic alternatives to identify the best path forward to unlock the full value of our assets.”

Zaslav told employees in a separate memo that “evaluating potential interest, conducting due diligence, and assessing next steps will take time, likely over a period of weeks and months.” He said “there’s no set timeline for final decisions.”

Zaslav outlined several possibilities: The already-planned split, “a transaction involving the entire company,” “separate transactions for Warner Bros. and/or Discovery Global,” or “an alternative separation structure that would enable a merger of Warner Bros. and spin-off of Discovery Global to our shareholders.”

Warner Bros. Discovery Rejects Paramount Skydance Second Bid For The Company

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Paramount Skydance boss David Ellison has bid $24 a share for Warner Bros. Discovery – a mega-deal worth $57 billion that was nevertheless rejected as takeover negotiations between the media giants heat up.

The latest back and forth – which has played out only in recent days – marks the third straight time Ellison has been rebuffed as WBD’s wily CEO David Zaslav shops the company to a number of large media and tech outfits, sources said. 

News of the spurned $24-a-share bid hasn’t previously been reported. On The Money reported last week that such a bid was in the offing. Now, people inside WBD are expecting a fourth bid from Ellison imminently, On The Money has learned.

On Tuesday, WBD disclosed that it has received “unsolicited interest” from prospective acquirers and said it was open to a sale – news that sent the company’s stock soaring nearly 12%. The shares on Tuesday recently added $2.12 to trade at $20.44. 

A rep for Zaslav had no comment; a Skydance spokeswoman also declined to comment.

WBD said it has “initiated a review of strategic alternatives” following “unsolicited interest the Company has received from multiple parties.” Those include bids for the whole company as well as offers for parts that include its top-ranked studio and popular streaming service, HBO Max, which WBD plans to spin off from its cable properties in April.

Prompting the Tuesday announcement, sources said, was the belief by Zaslav and his team that Ellison was imminently prepared to ramp up pressure on them to sell with a public announcement of his intentions, one that could bring his bid to between $26 and $28 a share.

Such a move, known as a hostile takeover, is where the suitor appeals to shareholders of a target company as opposed to privately working with a company’s board. Zaslav & Co sought to circumvent Ellison’s attempt to use a public bid as leverage on WBD to take what management believes is an inferior offer, these people add.

Zaslav believes his properties — which include the No. 1 ranked studio, the No. 3 ranked streaming services, a top cable channel in HBO, a still profitable news channel in CNN as well as billions of dollars worth in intellectual property — is worth as much as $30 a share or more, meaning he wants Ellison to pay above $70 billion for the entire company.

He has successfully argued to his board in rejecting three offers from Ellison that he can hold out for more money; some analysts have just his streaming and studio businesses – set for a May spin-off from his global cable properties – valued at $30 a share.

Zaslav has the support of his board to continue to reject offers until they come close to $30 a share, people with knowledge of the matter say. In the meantime, he will continue to pursue the breakup of his company, while he shops either all of it or various pieces, The Post has learned.

The Post was first to report WBD has received interest – particularly in its studio and streaming service – from Netflix, Amazon, Comcast and even media giant Apple. Microsoft, which also has a small streaming service, is also said to have looked at parts of the company.

The hard “no” from Zaslav is the latest rebuff for Ellison after the independent movie producer – who also is the son of tech tycoon Larry Ellison, the world’s second-richest person – snapped up Paramount in August.

As previously reported, Ellison has tapped private equity giant Apollo for financing of the deal. His media company, Paramount Skydance, is part of a partnership with private equity powerhouse Redbird Capital run by veteran media-dealer Gerry Cardinale.

It’s still unclear what role Larry Ellison will play in the unfolding drama in terms of funding a mega purchase like WBD, which would cost many multiples of the $6 billion David Ellison recently paid for Paramount, a mid-sized media company with flailing assets like MTV and CBS and a middling studio. 

Some media business observers say the elder Ellison has been reluctant to sell his Oracle stock for the purchase of WBD, which accounts for David Ellison’s so-far tepid bidding for the company and has given Zaslav room to reject those bids.