Broadcasting
Breaking…..CANAL+, MultiChoice Finalize and Agree to Buyout Offer
CANAL+ has made a mandatory offer to acquire all the issued shares of the MultiChoice Group it doesn’t already own for $1.9 billion.
CANAL+ was required to make the offer after acquiring 35 percent ownership of the company, now offering $6.70 per share, exceeding the regulatory minimum price of $5.63.
The two companies have entered an agreement for the mandatory offer, and MultiChoice shareholders will gain significant value for their shares, constituting a 66.66 percent premium to the closing price of $$4.02 on February 1, the last trading day prior to the delivery of CANAL+’s non-binding indicative offer.
The offer is conditional on customary regulatory conditions and will comply with all other relevant regulatory requirements.
CANAL+’s ambition is to build a global entertainment leader with Africa at its heart that will support the commercial development of Africa’s sporting and cultural industries and bring authentic African stories to global audiences.
“Following constructive engagement with MultiChoice, we are pleased to have issued a joint firm intention announcement to make an offer today, representing a significant premium for the shareholders of MultiChoice,” said Maxime Saada, chairman and CEO of CANAL+ Group.
“CANAL+ is confident in making this offer—at a level which far exceeds the minimum required by regulation—due to the incredible future we believe that CANAL+ and MultiChoice can build together.
“Through combining our companies, we will be well positioned to invest even more in local productions and sports content, supporting the world-leading and vibrant creative ecosystem on the African continent and all over the world, and producing even more high-quality and compelling local stories. The complementary geographies, considerable scale and strengthened capabilities achieved by the combination of these two great companies will ensure that Africa can tell her own stories on her own terms both locally and globally.
“We are excited about these opportunities, which will be supported by further investment in technology, including the continued offering of a leading satellite service and rolling out more innovative streaming products.”
Broadcasting
LG Electronics Brings the Rhythm to Nigeria with K-POP Fiesta
LG Electronics, a global leader in technology and innovation, is delighted to announce the launch of the highly anticipated K-POP Fiesta contest in Nigeria.
This exciting event offers fans a unique platform to showcase their passion for Korean pop music and dance, while providing an opportunity to engage with fellow enthusiasts from all corners of the country.
The contest will be to four major cities in Nigeria, including Lagos, Abuja, Port Harcourt, and Ibadan. The K-POP Fiesta contest aims to bring the electric energy and vibrant culture of K-POP to Nigeria, a country known for its love of music and dance.
The K-POP Contest invites talented individuals and groups to contest in various categories, including singing, dancing, and performance. As part of its commitment to fostering cultural exchange and embracing diversity
“We are excited to bring the K-POP Contest to Nigeria and provide a platform for talented individuals to shine,” said Mr. Hyoungsub Ji, Managing Director at LG Electronics West Africa.
“By taking the contest to multiple cities, we aim to reach a diverse range of participants and celebrate the rich cultural exchange between Korea and Nigeria. Contestant will have the opportunity to win exciting prizes and recognition for their talent”.
“We are thrilled to bring the K-POP Fiesta contest to Nigeria, a country with a rich musical heritage. This event is a testament to LG’s dedication to providing unique and exciting experiences for our customers. We believe that K-POP has the power to unite people from different backgrounds and create a sense of joy and unity.” Mr. Hyoungsub added
The K-POP Contest tour will kick off in Ibadan on the 2nd and 3rd of May, where fans can experience the electrifying energy of K-POP through dance and singing competitions, and also interactive experiences. From there, the tour will travel to Lagos, Port Harcourt, and Abuja, giving aspiring performers in each location the chance to showcase their talent on a grand stage at the finale which will take place in Lagos sometime in June.
The K-POP Fiesta contest will provide participants with a platform to showcase their talent, creativity, and love for K-POP. Participants will have the opportunity to compete in various categories, including singing, dancing, and even creating their own K-POP-inspired music videos. The contest will be judged by a panel of industry experts, ensuring a fair and unbiased evaluation.
Three winners in music and dance will emerge at the regional contest in these four cities with five hundred thousand naira up for grabs while the winner at the grand finale gets two million naira plus other exciting prizes.
In addition to the contest, attendees will also have the opportunity to experience LG’s latest innovations in entertainment technology. From high-quality sound systems to immersive displays, LG continues to push the boundaries of what’s possible in entertainment and lifestyle.
LG Electronics is committed to supporting and nurturing talent in Nigeria, and the K-POP Fiesta contest is just one of the many initiatives undertaken by the company to empower individuals and encourage artistic expression. By bringing the K-POP phenomenon to Nigeria, LG aims to create a memorable experience for both participants and fans alike.
To participate in the K-POP Fiesta contest, fans can register online at https://www.lg.com/africa/LG-Kpop-Fiesta or Join the conversation on social media (Instagram) using the hashtag #LGKPOPNigeria.
The contest is open to all K-POP enthusiasts in Nigeria, regardless of age or background.
The event had in attendance Management of LG Electronics, Nigeria Video Jockey & TV Presenter, V.J Adams, Akunna Okechukwu, 2021 Nigerian Idol finalist, among others.
Broadcasting
Why Multichoice Hiked Subscriptions for DStv and GOtv Packages- FCCPC
Dr. Adamu Abdullahi, acting Executive vice chairman, Federal Competition and Consumer Protection Commission (FCCPC), has disclosed that Multichoice submitted a four-page letter detailing the reasons for the price hikes in their cable services, GOtv and DStv.
FCCPC is responsible for protecting market competition and promoting consumer protection.
In an interview with Channels TV, Sunday, Abdullahi stated that the company cited the cost of electricity, generator operations and poor access to dollars as some of the reasons for the price increase.
He said the commission will review the reasons identified by Multichoice, noting that the agency will involve regulatory bodies such as the National Broadcasting Commission (NBC) and the Nigerian Communications Commission (NCC) in the process.
According to Abdullahi, the commission will not hesitate to sanction the firm if it discovers that their prices are arbitrary or it is in any way manipulating the market.
“We got a four-page letter from Multichoice, telling us the reason that led to this price increase. What we need to do is to bring in NCC and maybe NBC and Multichoice, sit down and look at all these variables that they claim caused the rise in prices.
“At a glance, we saw things like the cost of electricity, running generators, the cost of dollars for spare parts and so on. We’ll go through these items individually and find out how they have affected their operations.
“By and large, that’s the claim of what they are doing because they are a dominant player in this market. People have no choice but to go to them for Cable television, so that’s why they are doing what they are doing.
“If by any chance we find out or we can confirm that that’s what they are doing, again we go back to the law and do what we are supposed to do,” Abdullahi said.
Recall that the Multichoice Nigeria recently increased tariff or its DStv and GOtv packages by at least 25 per cent.
The increase, second in five months will be effective May 1.
Broadcasting
How to Beat DStv Price Increase with ‘Price Lock’ Feature
In today’s fast-paced world, where every penny counts, finding ways to save on essential services is more important than ever. And as part of its commitment to customer satisfaction, DStv has reiterated its “Price Lock” feature.
This is in response to the upcoming tariff increase, which the company understands may impose some financial strain on its valued customers.
What exactly does the “Price Lock” feature entail? The “Price Lock” feature offers customers the opportunity to retain their subscriptions at the current rate for 12 months.
To use the “Price Lock” feature, customers simply need to renew their subscriptions before the due date each month, ensuring uninterrupted access to their favourite DStv content at the current rate for the next 12 months.
But here’s the catch: only customers with an active subscription by the 30th of April qualify for this offer, when the tariff adjustment comes into effect.
Make sure you don’t miss the price lock offer! Simply download the MyDStv or MyGOtv app or dial *288# to subscribe, upgrade, or set up Auto-Renewal.
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