On Digital Media (ODM), the company that owns pay-television brand StarSat (formerly TopTV), is a step closer to concluding its business rescue process after it won a high court battle last week against one of its minority shareholders. It has been in business rescue under the
Browsing: MSG Afrika
When Times Media Group trumpeted in a statement to shareholders last week that it had acquired 60% of radio station Vuma FM for R25,6m, it failed to inform them of impending litigation against the Durban-based radio station that could jeopardise its future. TechCentral is in
Kagiso Media, which has previously expressed interest in launching both free-to-air and pay-television services, says digital terrestrial broadcasting may be on the “brink of irrelevance” and the longer the process is delayed, the less likely new players are to be successful. CEO Omar Essack made the comments
TopTV has had not an auspicious start to life. Although it was the only one of five new pay-TV operators licensed five years ago by the Independent Communications Authority of South Africa to take on MultiChoice and DStv to actually launch, it was always going to be uphill. The troubled telecaster “celebrated” the end
China’s digital pay-television company StarTimes walked away the winner on Tuesday in the TopTV takeover saga, although at least one of the losing consortiums is considering challenging the legality of the deal. Government will be the biggest loser with losses over R1bn. The meeting
The shareholders and creditors of troubled pay-television operator On Digital Media (ODM), which owns TopTV, have approved a business rescue plan that involves an offer by China’s StarTimes to purchase a direct 20% stake. The required majority of creditors
Just a day after it was revealed that a consortium led by MSG Afrika, backed with funding from MultiChoice, was making a bid to buy troubled pay-television operator TopTV, it has emerged that a second company, Wananchi Group, has submitted an expression of interest of its own
DStv operator MultiChoice, which is owned by media giant Naspers, has agreed to back a bid by a broad-based consortium wanting to buy into and rescue the financially troubled On Digital Media (ODM), owner of TopTV. A broad-based consortium led by businessmen
A consortium led by businessmen Given Mkhari and Malose Kekana has made an unsolicited offer to buy a stake in struggling pay-television operator TopTV, website BDlive reported on Monday. TopTV is owned by On Digital Media, which is currently trading under a “business rescue” in