Broadcasting
Zinox Set to Acquire Jumia
Jumia, one of the major e-commerce players in the African market, appears to be battling severe headwinds after its share price – which once traded at record highs of $59.96 tumbling down and currently trading at less than $5 – prompting speculations of a loss of investor confidence and a surprise takeover by Sub-Saharan Africa’s leading tech conglomerate, the Zinox Group.
Leo Stan Ekeh.
In April 2019, Jumia had listed on the New York Stock Exchange (NYSE) with an eye-catching IPO which witnessed share prices opening at $14.5 and rising as high as $26. However, two weeks after, a damning report by Citron Research had accused Jumia of fraud, describing its stock as worthless.
Specifically, the report had highlighted discrepancies in financials between investor presentations and SEC filings by Jumia, accusing its management of fraudulently inflating order numbers, while also labelling it a company burdened with inefficiencies.
Although Jumia denied any wrongdoing, the allegations from Andrew Left, founder of Citroen Research, resulted in a class-action lawsuit which Jumia recently settled out of court for $5m.
However, the debacle appeared to have seen investor confidence in Jumia take a huge bashing, with the likes of Rocket Internet and MTN Group, among others, exiting.
Several reports and articles in local and international media also detailed how the company which prided itself as the continent’s first unicorn fell from grace and how Jumia’s misadventure had tainted the potential of African e-commerce.
Now, confidential information from a few highly placed sources indicate that Chairman of the Zinox Group, Leo Stan Ekeh, is ramping up shares in Jumia indirectly for a possible acquisition.
Feelers say the serial digital entrepreneur, who is credited with pioneering e-commerce in Africa with his now-defunct BuyRight Africa over 12 years ago, is replicating the same strategy which he deployed successfully in acquiring Yes Mobile, a cosmopolitan high-value retail outfit, Ashour Corporation, a foremost telecommunications services provider headquartered in Dubai, UAE and more recently, Konga.
Ekeh acquired Konga, another latter-day e-commerce pioneer, at a dying stage in 2018 and turned it around to the point of profitability in barely three years, becoming the first e-commerce brand to achieve this feat which industry experts have termed a miracle.
Confidential sources claim Ekeh is supporting Konga’s massive investment in technology, logistics with a recent investment of over N4b and other infrastructure, including acquiring the single largest warehouse in Lagos, Port Harcourt, Abuja and Onitsha not too long ago, with the brand also attracting concrete interest from a horde of potential investors.
The Zinox Chairman, a restless but very passionate e-Commerce enthusiast, is rumoured by sources to be keen on consolidating the e-Commerce brand with a presence in 15 African countries under Konga to actualize his great but very silent ambition to alter the destiny of Africans.
Efforts to reach Ekeh, who is believed to be on a foreign trip, proved abortive.
However, when contacted, Gideon Ayogu, Head of Corporate Communications, Zinox Group, stated that while nothing positive is impossible, it would be a surprising development if the Group is intent on acquiring Jumia, especially considering the huge work put in by the new owners and current management of Konga in repositioning the brand to its current impressive trajectory.
‘’I am yet to hear Mr. Ekeh speak of any such potential investment,’’ he added.
Nigerian Institute of Public Relations (NIPR) has announced the postponement of its maiden annual Public Relations, Reputation, Ideas, Concepts and Excellence (PRICE) Awards and Prizes to January 25, 2026.
NIPR
The event, earlier scheduled for December 7, 2025, was deferred to accommodate stakeholders whose observance of Christmas festivities had commenced earlier than expected.
Chairman of the Organising Committee, Mr. Israel Opayemi, urged stakeholders to note the new date and prepare to participate in the ceremony.
He said the awards would motivate professionals, practitioners and scholars, while enhancing Nigeria’s global competitiveness in the public relations ecosystem and strengthening brand equity for all stakeholders.
Opayemi reaffirmed the Committee’s commitment to delivering a best-in-class award administration and ceremony, describing the PRICE Awards as a credible and enduring platform to identify, celebrate and elevate outstanding individuals, campaigns and organisations shaping the public relations landscape across sectors.
The development of the PRICE Awards peaked in September 2025 when the NIPR President and Chairman, Council, Dr. Ike Neliaku, inaugurated a 12-man committee to organise the maiden edition. The inauguration followed the Council’s adoption of the report of a technical team tasked with establishing the awards.
Netflix has announced a landmark agreement to acquire Warner Bros. and HBO Max in a transaction valued at $82.7 billion, a move analysts say will reshape the global entertainment industry.
Netflix
The deal, which includes Warner Bros.’ film and television studios, HBO, HBO Max, and Warner Bros. Games, was unanimously approved by the boards of both companies. Under the terms, Warner Bros. Discovery (WBD) shareholders will receive $23.25 in cash and $4.50 in Netflix shares for each WBD share.
Netflix co-CEO Ted Sarandos described the acquisition as “a defining moment” for the streaming giant, noting that the company intends to maintain Warner Bros.’ current operations while expanding its production capacity.
“By combining Warner Bros.’ incredible library of shows and movies with Netflix’s culture-defining titles, we can give audiences more of what they love and help define the next century of storytelling,” Sarandos said.
The transaction is expected to close within 12 to 18 months, following the planned spin-off of WBD’s TV networks division, Discovery Global, in 2026. Netflix projects annual cost savings of $2–3 billion by the third year after completion and expects the deal to be accretive to earnings per share by year two.
Industry groups, including the Directors Guild of America and Cinema United, have raised concerns about the impact on movie theaters, while regulators are expected to scrutinize the deal over antitrust issues. Netflix has pledged to continue supporting theatrical releases, with Warner Bros.’ cinema commitments running through 2029.
Warner Bros. Discovery CEO David Zaslav hailed the agreement, saying it “combines two of the greatest storytelling companies in the world to bring to even more people the entertainment they love.”
Observers note that the acquisition comes 15 years after former Time Warner chief Jeff Bewkes dismissed Netflix as “the Albanian army,” underscoring the dramatic shift in the entertainment landscape.
A major shake‑up rocks viewers and subscribers of DSTV/GOTV as many channels are set to shut down and be removed on January 1, 2026.
The trigger for the upcoming shut‑down is a breakdown in negotiations between the owners of multiple global channels and the pay‑TV operator.
As of December 2025, the deal between Warner Bros. Discovery (WBD) and DStv/GOtv has expired and the two parties have not reached a renewal agreement.
Without a new carriage/distribution agreement, the channels belonging to WBD risk being pulled off the DStv/GOtv line‑up.
This is the most significant content cutback the service has seen in years.
The affected channels are:
Discovery Channel
TLC
Cartoonito
Cartoon Network
CNN International
Food Network
The Travel Channel
TNT
Investigation Discovery
Real Time
HGTV
Discovery Family
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