Entertainment

Following a revenue and subscriber decline in the previous fiscal year, MultiChoice CEO Calvo Mawela stated that the company can achieve significant cost savings without retrenchment. The company plans to save R2 billion by 2025 through various cost-cutting measures.

MultiChoice Group has released its operational performance for the fiscal year ending March 2024 (FY24), which shows a 9% decline in total active subscribers. The Group reported a 13% drop in subscribers in Nigeria, Angola, and Zambia.

According to a report, Canal+, the French media company in the process of acquiring MultiChoice, will not replace MultiChoice’s brands after the acquisition due to their high brand value.

MultiChoice Nigeria plans to appeal a ₦150 million fine imposed by the Competition and Consumer Protection Tribunal for ignoring an 8-day notice to halt a planned price hike.

BritBox, an online digital video streaming subscription service that launched three years ago, has announced that it will cease operations in South Africa in August 2024.

Following South Africa’s Department of Communication and Digital Technologies concerns that on-demand music and online video streaming services may soon pose serious threats to broadcasters in the country, MultiChoice remains unshaken. Here’s why.

Canal+ has acquired additional shares in MultiChoice, increasing its total stake to 41.59%. This acquisition comes just days after Canal+ increased its stake in MultiChoice to 40.08%.

MultiChoice Group has announced that Chairman Imtiaz Patel will step down immediately, despite saying in April that his tenure would be extended. Elias Masilela, Deputy Chairman of the company’s board, will take over.

MultiChoice has notified its shareholders that it has signed a “cooperation agreement” with Canal+ to facilitate a mandatory offer the French company must make to them.

MultiChoice has reversed its initial announcement, stating that Imtiaz Patel will not resign as Chairman until the Canal+ buyout is completed.

Telkom, a South African telco, offers its customers a 12-month promotional offer for Amazon Prime Video and Prime Video Edition, valid until March 2025.

Patrice Motsepe, a South African billionaire, is reportedly in talks with Canal+ about joining its bid for MultiChoice. This news comes as Canal+’s deadline of April 8 to make a formal buy offer approaches.

Starting April 1, 2024, Netflix’s new pricing review update will see Nigerian subscribers pay more for Standard Plan, Premium Plan, and Mobile Plan. However, the Basic Plan remains at ₦2,900.

On the heels of its interest in MultiChoice, Canal+ Group, a French media company, has acquired a stake in Marodi TV, a Senegalese production company, to strengthen its presence in Francophone Africa.

French media company Canal+ has been given an additional 25 business days to make a mandatory offer to acquire MultiChoice after the South African Takeover Regulation Panel’s order on February 28.

The South African Takeover Regulation Panel has directed Canal+ to submit a purchase offer for MultiChoice following the broadcaster’s rejection of the French media’s bid a few weeks ago.

MultiChoice has signed a licencing agreement with Paramount+, offering the payTV subscribers access to world-class content from CBS, Paramount+ Originals, Showtime, and Paramount Pictures.

The Takeover Regulation Panel has expressed displeasure with the ongoing takeover discussions between MultiChoice and Canal+, a French media company.

MultiChoice has rejected Canal+’s proposal to acquire the company at R105 per share, stating that the offer undervalues the company.

Canal+, a French media company, has announced plans to acquire MultiChoice, a South African payTV provider, despite the country’s regulations prohibiting foreign ownership of local broadcasters.