MultiChoice will carry losses incurred by Showmax in the “medium term”, but the goal is eventually for the streaming television service to turn a profit once broadband infrastructure in South Africa and the rest of the continent has been built out further to support it.
Netflix is working to release its first-ever South African – and African – original television series, it was reported on Monday.
Naspers CEO Bob van Dijk, together with Naspers video entertainment CEO Imtiaz Patel and MultiChoice South Africa CEO Calvo Mawela, held a media call on Tuesday morning to discuss the plan to unbundle MultiChoice. Listen to it here.
Naspers has announced it plans to list its video entertainment business on the JSE while at the same time unbundling the unit to shareholders.
Vodacom Group has cut its dividend and reported earnings that missed estimates as Africa’s biggest wireless carrier by market value absorbed the acquisition of a stake in Kenya’s Safaricom and expanded its network