Apollo Global Offered $27 Billion For All Of Paramount Global But The Bid Was Rejected

Private-equity giant Apollo Global Management made a $27 billion offer to acquire all of Paramount Global this week, sources familiar with the bid told the media. However, the special committee set up by the Paramount Global board of directors to consider M&A options declined to engage with the bid.

Apollo submitted an all-cash bid on Sunday, March 31, to acquire Paramount Global in a deal worth more than $27 billion of total enterprise value, encompassing equity and debt, according to people familiar with the situation. That came after Apollo had offered $11 billion to buy Paramount Pictures alone, a bid that was also rebuffed by Paramount’s committee. Shari Redstone is Paramount’s controlling shareholder and president of National Amusements Inc., its parent company. But given the potential conflict of interest, Redstone is not a member of the board’s special committee.

NAI, Paramount Global and Apollo have declined to comment on the M&A talks.

Word of Apollo Global’s new bid for Paramount Global comes as Redstone entered into an exclusive negotiating period with David Ellison’s Skydance Media to sell her stake in National Amusements Inc. (and thereby pave the way for Skydance to merge with Paramount Global). NAI holds 77% of the voting shares in Paramount Global.

Redstone’s preference is for Paramount Global be sold as a whole, not in pieces. It’s not clear why the media company’s special committee would have not considered Apollo’s $27 billion bid for the entire company.

It was reported Tuesday that Redstone and Skydance were close to establishing 30-day window for exclusive deal talks after months of discussions. NAI and Skydance have now entered into a provisional agreement covering such exclusive negotiations, likely with a basic outline of potential deal terms, according to sources.

Paramount Global’s market cap stood at $9.26 billion after the market closed Wednesday. The stock shot up 15% in the final hour of trading Wednesday amid a cascade of media reports that Redstone, National Amusements Inc. and Skydance are moving closer to a deal. Shares closed at $13.52.

Paramount Global’s assets include Paramount Pictures; the CBS network and owned local stations; cable networks including Comedy Central, BET, MTV and Nickelodeon; and the direct-to-streaming business housing Paramount+ and Pluto TV.

Development Alert: Parliament TV Channel On DStv Might Be Getting The HD Treatment

Parliament TV had been operating on MultiChoice's DStv providing coverage of important parliamentary proceedings and other festivities. This serves as a underscoring and their commitment to supporting parliamentary transparency.

As seen later in the week, MultiChoice had closed 1Magic and Me as further content had been folded under 1Max. Applicable to consumers in South Africa, it serves as a promotional channel for Showmax with a mixture of local and international content.

With channel 115 vacated, MultiChoice had removed the HD feed from Me and replaced it with Parliament TV. Taking to account the current feed is only SD its likely that they're looking to align them with eNCA and SABC News whose feeds have been HD.

Other channels that have since then been going through similar tests and awaiting an upgrade include Disney Channel (since 2023) and TBN (since 2022).

In other developments, MultiChoice had sent notifications to consumers over the closure of WildEarth. After multiple failed attempts by the channel to secure payment for their carriage on DStv had opted to take their channel off air by the end of April. 

DStv Channel Changes From 01 January 2023 To 31 March 2024

2023 had proven to be the least productive year in terms of channel additions as opposed to terminations as MultiChoice continues to review their slate of content and explore other means of keeping viewers entertained.

DStv Access experienced the most wins during this period in terms of expansions as the pay-tv company allocated channels such as E! Entertainment, Trace Urban, WildEarth, ESPN 1 SuperSport La Liga, SuperSport Schools and Ignition TV.

They continued their winning streak with new additions Play Room and Zee Zonke.

DStv Easyview didn't get that much limelight as seen in the previous financial period with Magic Showcase and BBC UKTV. However, they were very much present in the new channel circuit with the now defunct brands, NWTV and One Freestate Televisual. 

Consumers leaning toward the Family and Compact Plus tile had recieved the least amount of attention in the current financial period:

• DStv Family only got BBC Lifestyle after being made exclusive to Compact.

• DStv Compact+ welcomed a new channel Qwest TV from multi award-winning artist Quincy Jones.

DStv Compact consumers were the most "fortunate" amongst top to mid tier households. Although no new channels were reported, MultiChoice had extended the reach BBC UKTV which now serves 12 million households in Africa alongside ESPN 2.

Premium households continue to inherit nothing as the market for this audience declines with the last additions dating back to September 2020 with a full-time fliekNET channel and more sports channels. 

Terminations from this period range from channels like Maisha Magic Movies, HONEY, Da Vinci Kids, Deutsche Welle (DW), Emmanuel TV, B4U Movies, People's Weather, NWTV, One Freestate Televisual, Ginx eSports TV, 1Magic and Me:

• DStv Easyview would have lost 4 channels which is the most channels for any package: People's Weather, NWTV, One Freestate Televisual and Emmanuel TV. 

• DStv Access would have come in second with 3 channels: HONEY, Deutsche Welle (DW) and Da Vinci Kids. 

• DStv Compact would come in third with two channels: Ginx eSports TV and Maisha Magic Movies. 

• Other packages would have lost only one channel: 1Magic, Me and B4U Movies. 

Below we present a roundup of 2023 with various developments that took place and beside it the package.

Expansions

ESPN 1 - Compact to Access

WildEarth - Family to Access

Trace Urban - Family to Access

E! Entertainment - Compact to Access

Ignition - Family to Access

BBC UKTV - Easyview to Compact

ESPN 2 - Compact+ to Compact

BBC Lifestyle - Compact to Family

SuperSport Schools - DStv Stream to Decoder (excluding Easyview)

SuperSport La Liga - Family to Access

New channels

Qwest TV - Compact+

Zee Zonke - Access

* One Freestate Televisual - Easyview

Play Room - Access

* NWTV - Easyview

* means channel closed 

Termination

HONEY - Access

Maisha Magic Movies - Compact

Da Vinci Kids - Access

Emmanuel TV - Easyview

1Magic - Compact+

Me - Family

One Freestate Televisual - Easyview

B4U Movies - AddMovies

People's Weather - Easyview 

NWTV - Easyview

Deutsche Welle (DW) - Portuguese

Ginx eSports TV - Compact 

New Series Alert: A Lot Can Happen Over Coffee, A Telegu Based Series Debuts On Zee One This Month

Last month, it was reported that Star Life will be rolling out two new shows in the coming weeks, Beyond Life and Evil Affairs. Now Zee One is also looking to debut show in the month with a new Telegu drama, A Lot Can Happen Over Coffee (Rajeswari Vilas Coffee Club).

A Lot Can Happen Over Coffee depicts the story of Rajeshwari, a compassionate cook aspiring to keep her mother’s hotel thriving, challenges Rudra, an elite chef when he decides to usurp her hotel to grow his premium food business.

It starred Likitha as Rajeshwari, Rudra Nelakanta as Akarsh, Vishwamohan as Viswanatham, Sheelasingh as Kamakshi and Prasad as Subbarao. 

Produced by Indian broadcaster Zee Telegu, A Lot Can Happen Over Coffee debuted sometime in 2022 with 398 episodes having being filmed so far. It serves as an ongoing drama at the moment as seen with other Zee TV series like Twist Of Fate and Radha Mohan.

A Lot Can Happen Over Coffee will replace My New Mother In Law on Zee One from 7 April. Prior to this, the pay-tv version of the channel Zee World will rollout a new female led drama Sister Wives not to be mistaken with the reality show from TLC. 

News Shorts: Alice's Wonderland Bakery Cancelled On Disney Junior After Two Seasons And The Iron Heart To Rollout On Novela E Plus Alongside A Rebroadcast Of Betty In New York On Telemundo

Disney axes another program 

Back in 2022, Disney announced a brand new animated series for preschoolers and their families called “Alice’s Wonderland Bakery” that was inspired by the beloved world of “Alice in Wonderland.” The series debuted in 2022, with a second season renewal coming shortly after its premiere.

Centred on Alice, the great-granddaughter of the original heroine and a budding young baker at the enchanted Wonderland Bakery, each episode features two 11-minute stories about Alice’s recipe adventures with her best pals—Fergie, a white rabbit; Hattie, her madcap friend; and Rosa, the Princess of Hearts.

Disney has announced via the Disney Junior Instagram account, that the series finale of “Alice’s Wonderland Bakery” is going to air on the Disney Junior channel in the United States on April 15th 2024, indicating that the show is now coming to an end.

The Iron Heart debuts on Novela E Plus

Apollo Adelantar is an undercover agent who goes on a dangerous mission to bring down a crime ring name Altare unaware of his trusted friend when his two of his trusted allies becomes a enemy. Fueled by a bitter and painful past, Apollo and his allies face grueling tasks that will challenge his resolve and strength.

It starred Richard Gutierrez as Apollo "Pol" Adelantar, Kyle Echarri as young Apollo, Albert Martinez as Engr. Priam dela Torre, Dimples Romana as Selene Larisa and Sue Ramirez as Venus Z. Magbanua.

The series will air daily on Novela E Plus at 18:50 from 6 April.

Telemundo loads up on repeats

Based on the 1999 Colombian telenovela Yo Soy Betty La Fea, the romantic comedy Betty In New York followed Beatriz Aurora Rincon Lozano as she embarks on a new journey in New York when she takes on a job as a secretary at V&M Fashion.

The series will air daily on Telemundo at 18:00 from 13 April.

Mzansi Magic Presents Code 13, A Race To Capture Dangerous Escaped Convicts Starring Zolisa Xaluva & Lunathi Mampofu

Crime, corruption, and betrayal of the highest level are set to be the driving themes for Mzansi Magic’s new drama series Code 13, premiering on Sunday 14 April. 

 

Set in the gritty heart of Joburg, Code 13 follows the story of Bheki Ndlovu played by Zolisa Xaluva a no-nonsense Jozi detective with a knack for connecting the dots and solving complex cases. Together with a hard-edged police unit, he is tasked with recapturing six of the city's most dangerous criminals who escaped while in custody from a police van.

 

However, this already challenging case presents him with hurdle after hurdle at every turn as his efforts reveal a web of corruption, betrayal, and secrets at the very top. Moreover, Bheki’s work life is not the only one that seems to be ‘adventure-packed’, but his personal life plays a significant role as he tries to balance the two, especially when his love interest turns out to be a colleague.

 

The series, produced by Seriti Films also stars Lunathi Mampofu as Bongi Nkosi, a police detective, and Bheki’s love interest, Aluve Mjali as Marcus ‘Mamba’ Moagi as a highly skilled hacker, and Primo Baloyi as Veli ‘Veja’ Mohalanyane who is deeply connected to the community which makes him a reliable informant.   Other cast members who will star in the series include Zikhona Bali as Azania, Saint Seseli as Patrick, and Thami Mngqolo as Dr Pitso.

 

The big question is: Can Bheki trust his team of over-qualified and egotistical law enforcers to recapture this group of dangerous escapees and expose a web of corruption that reaches the highest levels of power before the city descends into irreversible chaos?

To get all the answers and to see how it all unfolds, tune in to Code 13 premiering Sunday 14 April at 8 pm on Mzansi Magic Channel 161.

Recap To Last Month: Purged Programming From Former DStv Channel NWTV Launches On Soweto TV

A few months ago, MultiChoice had axed two provincial channels on the DStv platform, One Freestate Televisual and NWTV. After residing on the platform for less than 3 months, MultiChoice had silently axed the channels without any prior notice.

Since then, One Freestate Televisual remained on StarSat with the TV channel that had attempted to negotiate a new agreement with MultiChoice. NWTV on the other hand is not viewable anywhere in Africa thus concluding its run as a linear channel.

MultiChoice in these endeavors had removed seven additional channels: 1Magic, Me, People's Weather, Emmanuel TV, B4U Movies, Ginx eSports TV and Deutsche Welle. Since then only select shows from a minority from these brands were available for viewing. 

As seen through the programme guide, Soweto TV scooped up rights to one of the few programs from NWTV, The Girl. It followed a young girl named Belky who grew up in a jungle after being abducted had escaped years later and united with her family. 

The problem pertaining to The Girl's return on TV screens would be the broadcaster, Soweto TV. NWTV was catered to multiple countries within Southern Africa while Soweto TV is only situated in South Africa therefore alienating an audience from programming. 

The Girl airs daily at 08:30 and 17:30 on Soweto TV. 

Recap To The Week: 1Max Has Been Excluded From The DStv Compact And Family Packages

During the week, MultiChoice had launched the standalone 24 hour service to Showmax, 1Max. After promising Compact+ consumers a rebranded offering, 1Max debuts on channel 103 with content already seen on 1Magic with a major boost from Me.

After having closed Me on channel 115 which targeted consumers on the Compact and Family packages. MultiChoice had opted alienate them from viewing further shows from M-Net and this includes Yellowstone and The sixth season of The Good Doctor.

Consumers on Compact+ confused and frustrated over the switch to 1Max as various traits from 1Magic had surfaced on the channel. This includes sitcoms Moesha and One And One with further additions of content viewed on Africa Magic and KykNET. 

From what we've grasped, 1Max is a Showmax tailored channel basically BBC UKTV and Nicktoons - secondary network. All the premium bonanza was axed when the premiere of Champions moved from 1Magic to Mzansi Magic. 

Honestly speaking, 1Max's debut on DStv almost seems rushed as the programme guide still includes 1Magic's termination card. On top of that, further details as to the name and programming was only unveiled by yesterday.

MultiChoice in these regards opted to unveil further details about 1Max through content highlights on their website. They didn't think to even brief the media beforehand not even a press release leading some to question MultiChoice's confidence on 1Max.

One of two theories come to mind over the lack of marketing first being its current positioning as the latter is on Showmax. If anything, its likely that the availability has to do with some content viewed on channel like Ted and Red Ink.

MultiChoice Chair To Stay On Until Canal+ Transaction Concludes

Imtiaz Patel will remain as chair of MultiChoice until the conclusion of the Canal+ transaction, the pay-TV operator said on Tuesday.

French broadcaster Canal+ has made a mandatory offer to MultiChoice investors to take up all the shares that it does not already own by April 8.

The MultiChoice board said it had reached an agreement for Patel to stay as the continuity would be beneficial. Patel agreed to extend his tenure until the conclusion of the Canal+ transaction or sooner, depending on the progress of the transaction.

Elias Masilela, a long-standing non-executive director and the chair, became the deputy chair of the MultiChoice board on April 1. He will also become lead independent director in place of Jim Volkwyn, who will step down as lead independent director but remain as a non-executive director.

 

At the start of February, Canal+ made an offer to buy the rest of the company at R105 a share, or just more than R31bn, in what would have been the biggest M&A deal so far in SA in 2024.

The DStv owner snubbed the offer as too low for the business and its prospects, even though it is at the top end of the target price range that analysts and brokers have for the stock. 

Canal+ then raised its offer to R125 per share on March 5, valuing the deal at about R37bn.

Canal+, a top shareholder in MultiChoice that had a 31.67% interest when it proposed the offer, raised its stake to 35.01% after the deal’s announcement earlier in February, just above the threshold that would require the company to make a mandatory offer to shareholders.

The Paris-based company said it would publish a firm intention announcement by April 8.