Connect with us

Broadcasting

MultiChoice and Canal+ Buyout Deal Forges Ahead

Published

on

Kindly share this post

MultiChoice and French media giant Groupe Canal+ have released a joint circular detailing plans and dates for the proposed buyout of the DStv operator at R125 per share.

The circular covers what happens to shareholders who choose not to sell, reiterates Canal+’s plan to list on the JSE, and provides some idea of how the companies might handle foreign ownership restrictions on broadcasters.

Canal+ has steadily bought up MultiChoice stock on the open market since October 2020 and hit a 35% threshold at the beginning of the year, triggering a mandatory buyout offer.

After some wrangling from MultiChoice and a reprimand from the Takeover Regulation Panel, Canal+ offered R125 per share, valuing the company at over R55 billion.

The buyout will cost Canal+ over R30 billion in cash, and the company has continued buying MultiChoice shares while its offer is being considered.

The Takeover Regulation Panel last reported in May that Canal+’s shareholding stood at 45.2%.

Tuesday’s circular shows Canal+ has not bought any additional shares since 10 May 2024. Its average buy price for the past six months has been just over R100 per share.

The circular states that the deal is still subject to several regulatory approvals, including from the Financial Surveillance department, the Competition Tribunal, the JSE, the Takeover Regulation Panel, and other government authorities.

One of the other government authorities is the Independent Communications Authority of South Africa (Icasa), the custodian of the Electronic Communications Act (ECA).

Under the ECA, a foreigner may not, whether directly or indirectly:

  • Exercise control over a commercial broadcasting licensee; or
  • Have a financial interest or an interest either in voting shares or paid-up capital in a commercial broadcasting licensee exceeding 20%

Exercise control over a commercial broadcasting licensee; or
Have a financial interest or an interest either in voting shares or paid-up capital in a commercial broadcasting licensee exceeding 20%.
Canal+ and MultiChoice have stated that they are exploring several options to comply with these requirements following the buyout.

These include a corporate reorganisation, participation by one or more local BBBEE partners, and mechanisms to limit the voting rights of foreigners.

The latter includes a potential limit on MultiChoice’s voting rights over the licensed entities in the MultiChoice Group.

In March, Bloomberg reported that billionaire Patrice Motsepe was in talks with Canal+ to join its bid for MultiChoice.

Regarding shareholders who do not accept the offer, the companies said they will remain invested provided Canal+’s shareholding remains below 90%.

Canal+ reserves the right to invoke Companies Act provisions allowing it to buy out the last remaining shareholders and delist the company should its ownership exceed 90%.

They also committed to engage with the JSE in the event that MultiChoice’s free float dips below the stock exchange’s liquidity requirements.

“MultiChoice shareholders are reminded that Vivendi SE, the parent company of Canal+, is currently undertaking a feasibility study for the proposed split of the company into several separately listed entities,” the circular stated.

“Canal+ intends that, should its planned European listing proceed, there will be an opportunity for South African investors to become shareholders of the combined entity as part of a secondary inward listing on the JSE.”

The companies explained that if Canal+’s listing occurs before its offer becomes unconditional, it will consider revising it to give MultiChoice shareholders an opportunity to have exposure to the combined group.

MultiChoice and Canal+ said the offer opens at 09:00 on 5 June 2024.

They aim for it to become wholly unconditional by no later than Tuesday, 8 April 2025.

The last day to trade to participate in the offer is 22 April 2025, and it closes at noon on Friday, 25 April 2025.


Kindly share this post

Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

Broadcasting

Stakeholders Endorse Hybrid Model for Nigeria’s Digital Switch

Published

on

Kindly share this post

Stakeholders in Nigeria’s broadcasting industry have endorsed a hybrid digital broadcasting model that combines Digital Terrestrial Television (DTT), Direct-to-Home (DTH) satellite services, and digital application-based platforms for the country’s Digital Switch Over (DSO) programme,

Stakeholders Endorse Hybrid Model for Nigeria’s Digital Switch

The resolution was reached at a high-level stakeholder meeting convened by the National Broadcasting Commission (NBC) under the supervision of the Federal Ministry of Information and National Orientation at NICON Luxury Hotel, Abuja.

The meeting, chaired by Alhaji Mohammed Idris, minister of Information and National Orientation, brought together regulators, broadcasters, signal distributors, set-top box manufacturers, content producers, satellite operators, and industry associations to chart a sustainable path for Nigeria’s long-delayed digital migration project.

Addressing stakeholders during the closed-door engagement session, the minister described the meeting as a collaborative effort aimed at finding practical solutions to challenges facing the DSO project.

“This engagement is a family discussion aimed at finding practical solutions to ensure the success of the Digital Switch Over project. Government has no hidden agenda, and all decisions will be guided by national interest, stakeholder inclusion, and the long-term sustainability of the broadcasting industry,” he said.

The minister acknowledged concerns raised by industry players regarding stakeholder consultation and participation in previous phases of the project, noting that while broader engagement should ideally have commenced earlier, there remained an opportunity to build consensus and move forward together.

“While there may be differing views on implementation approaches, there is broad agreement that Nigeria must complete its digital migration journey. We must work collectively to achieve this national objective,” he stated.

Mr Charles Ebuebu, director general, NBC, described the stakeholder meeting as “iconic”, noting that it marked a turning point in Nigeria’s efforts to complete the digital migration.

He said the country had spent over a decade on the DSO journey, missing several deadlines, but expressed optimism that a clear implementation plan was now being developed.

Ebuebu said the commission, in collaboration with stakeholders, is working toward a sustainable model that ensures return on investment for industry players while delivering value to the nation.

He said that the outcome of the consultation process would produce a unified framework for implementation and communication going forward.

Mrs Jane Nkechi Egerton-Idehen, managing director, Nigerian Communications Satellite (NIGCOMSAT), said the DSO initiative forms part of broader federal interventions aimed at building a sustainable broadcasting ecosystem.

She explained that government investments had supported satellite coverage, national call centres, and regional production studios across the country.

According to her, the objective is to address gaps in content distribution and ensure that Nigerian broadcasting reflects the country’s linguistic and cultural diversity.

“We are not departing from the original plan. We are innovating on how it is implemented,” she said.

She also highlighted efforts to expand access to production facilities across geopolitical zones to support content creators and reduce dependence on major urban centres.

The meeting attracted 128 participants, including the Director-General of the NBC; Permanent Secretary of the Federal Ministry of Information and National Orientation, Dr. BRM Ukire; Director-General of the Nigerian Television Authority (NTA), Abdulhamid Dambos; Director-General of the Advertising Regulatory Council of Nigeria (ARCON), Dr Olalekan Fadolapo; Chairman of the Broadcasting Organisations of Nigeria (BON), Chief Tony Akiotu; Managing Director of NIGCOMSAT Ltd, Mrs Jane Nkechi Egerton-Idehen; and representatives of licensed broadcasters and other industry stakeholders.

During deliberations, stakeholders agreed that the DSO project remains both necessary and desirable for Nigeria, emphasising that the transition should prioritise national interest, industry sustainability, local content development, local manufacturing, and job creation.

Among the key resolutions reached was the affirmation that Digital Terrestrial Television (DTT) remains a critical component of the DSO framework and should not be discontinued. Participants also agreed on the need to reconstitute the DigiTeam implementation platform to provide a structured mechanism for consultation, collaboration, and industry participation.

Stakeholders further called for stronger engagement between regulators and industry players, with an agreement that stakeholder meetings would be held at least quarterly to ensure continuous alignment on implementation strategies.

The meeting also welcomed ongoing efforts by the NBC and ARCON to develop a sustainable business model aimed at improving audience measurement systems, strengthening advertising revenue generation, and enhancing the long-term viability of broadcasting organisations.

In addition, stakeholders were assured by NIGCOMSAT of the reliability of satellite infrastructure supporting the DSO platform.

The company disclosed that backup arrangements with alternative satellite operators were already in place to guarantee uninterrupted service and eliminate the need for subscriber dish realignment.

As part of the agreed next steps, the Federal Government, through the Ministry of Information and National Orientation, will reconstitute the DigiTeam stakeholder platform, while the NBC will continue consultations with set-top box manufacturers and other industry stakeholders to address concerns relating to existing investments and future participation in the digital broadcasting ecosystem.

The stakeholders expressed confidence that the renewed collaborative approach would accelerate Nigeria’s digital migration, improve broadcasting services, expand audience reach, attract investment, create jobs, and deliver greater value to Nigerian consumers.

 


Kindly share this post
Continue Reading

Broadcasting

MTN Launches One TV with Free-to-View, Pay-as-You-Go

Published

on

Kindly share this post

MTN Group has begun rolling out MTN One TV, a new entertainment proposition designed to make digital video content more accessible, relevant, and flexible for customers across African markets.

MTN Launches One TV with Free-to-View, Pay-as-You-Go

Introduced in line with MTN’s Ambition 2030 strategy, MTN One TV brings together local storytelling, live channels, international programming, and market-specific viewing options tailored to how customers across the continent access and pay for digital entertainment.

The proposition is designed to give customers greater choice in how they watch content, with viewing models that may vary by market and can include free-to-view content, advertising-funded experiences, pay-as-you-watch access, and subscription offerings.

Depending on local availability, customers may also be able to pay through airtime, Mobile Money, and other locally supported payment methods, helping to reduce common barriers to streaming access.

Beyond enhancing customer experiences, MTN One TV creates new opportunities for African creators, broadcasters, advertisers, and ecosystem partners by helping connect content to wider audiences through MTN’s scale across connectivity, payments, and digital services.

By bringing together a broad mix of content experiences under a single proposition, MTN aims to support greater content discovery, broader audience reach, and sustainable growth across Africa’s digital entertainment ecosystem.

Anchored in MTN’s strategic platforms of Connectivity, Fintech, and Digital Infrastructure, MTN One TV forms part of the Group’s broader ambition to build digital experiences that create value for customers while enabling participation and growth across Africa’s digital economy.

“Entertainment is increasingly becoming an important gateway to digital participation,” said Selorm Adadevoh, MTN group chief commercial, strategy and transformation officer.

“Through MTN One TV, we are leveraging the scale of our connectivity, fintech, and digital capabilities to make relevant content more accessible while creating new opportunities for Africa’s creative and digital economies. This is aligned with our ambition to deliver digital solutions for Africa’s progress.”

MTN One TV is being introduced progressively across MTN markets through a phased rollout approach that reflects local market needs, existing services, and partnership opportunities.

Over time, MTN will bring together a combination of video capabilities, content partnerships, and customer experiences under the MTN One TV brand to create a more consistent and scalable entertainment proposition across its footprint.

Through MTN One TV, MTN continues to extend its role beyond connectivity by combining entertainment, payments, and digital services to deliver experiences tailored to the needs of African consumers.

The rollout supports MTN’s Ambition 2030 vision of leading digital solutions for Africa’s progress while expanding access to digital entertainment across the continent.

 


Kindly share this post
Continue Reading

Broadcasting

IATA Drops Bombshell: Nigeria Among World’s Most Expensive Countries to Run an Airline

Published

on

Kindly share this post

International Air Transport Association (IATA) has identified Nigeria as one of the most expensive countries in the world for airline operations, citing high taxes, charges and operational costs that continue to weigh heavily on local carriers.

IATA Drops Bombshell: Nigeria Among World's Most Expensive Countries to Run an Airline

IATA’s Regional Vice President for Africa and the Middle East, Kamil Al-Awadhi, disclosed this during the association’s Annual General Meeting held in Rio de Janeiro.

Al-Awadhi said that although Nigeria’s Minister of Aviation and Aerospace Development, Festus Keyamo, had been pursuing reforms aimed at improving the aviation sector, airlines operating in the country still faced enormous cost pressures.

According to him, the high-cost operating environment has continued to affect the profitability and competitiveness of Nigerian airlines, making it difficult for the industry to realise its full potential.

He noted that excessive taxes, regulatory charges and other operating expenses remained major obstacles to airline growth across the region, with Nigeria ranking among the most challenging markets from a cost perspective.

Al-Awadhi urged member states of the Economic Community of West African States to adopt a proposed 25 per cent reduction in aviation taxes and charges to ease the burden on airlines and passengers.

According to him, lowering taxes and charges would reduce airfares, stimulate passenger traffic and strengthen the competitiveness of carriers operating within West Africa.

He stressed that a more supportive policy environment was critical to unlocking the economic benefits of aviation, including increased trade, tourism and regional integration.

Industry stakeholders have consistently advocated lower taxes and regulatory fees, arguing that the current cost structure makes air travel less affordable and limits the growth of the sector.

IATA’s latest remarks add to calls for governments in West Africa to implement policies that will promote a more sustainable and competitive aviation industry across the region.


Kindly share this post
Continue Reading

Trending