Entertainment

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.

Netflix’s 2023 Q4 report reveals that it has added over 13 million new subscribers. The Europe, Middle East, and Africa (EMEA) region contributed 5.05 million subscribers to the additions.

Amazon Prime Video, Africa’s third-largest streaming platform, is reportedly reducing its workforce and local content production in sub-Saharan Africa and North Africa to focus on the European market.

MultiChoice has announced new prices and a launch date for its revamped video streaming platform, Showmax 2.0, in Nigeria and South Africa.

Wyclef Jean, a Grammy-winning musician, has partnered with the Plateau State government to build a tech hub in the state. This move will support efforts by players such as Aduna Capital and Nasir El-Rufai to boost tech growth in Northern Nigeria.

Spotify and Orange have partnered to allow users to listen to the streaming app for free due to high data costs. Currently available in the Democratic Republic of the Congo, Madagascar, and Mali, Spotify plans to launch this in Guinea soon.

Okada Books, a Nigerian digital publishing and bookselling platform, will close shop on November 30, 2023. This news comes at a time when Nigeria has one of the world’s lowest reading cultures, with a preference for videos over text.

After dethroning Netflix as the market leader in Africa for streaming content, Showmax will release its revamped version in February 2024.

Satellite TV provider, MultiChoice, has pulled the plug on its DStv offering in Malawi. The company will no longer accept new DStv subscriptions or reconnections in Malawi starting Wednesday, August 9, 2023.

South Africa got $125 million of the $175 million Netflix has invested in sub-Saharan Africa since 2016. Nigeria got $23 million, while figures for Kenya were not revealed.