Latest news with #streaming
Reuters
2 hours ago
- Business
- Reuters
Canal+ gets conditional approval for MultiChoice takeover
JOHANNESBURG, July 23 (Reuters) - South Africa's Competition Tribunal has approved France's Canal+ (CAN.L), opens new tab 35 billion rand ($2 billion) takeover offer for TV broadcaster MultiChoice (MCGJ.J), opens new tab, subject to agreed conditions, the companies said on Wednesday. The deal marks a watershed in Africa's media landscape, potentially reshaping the continent's broadcasting system. It signals a strategic consolidation aimed at countering global streaming giants such as Netflix. The deal is transformative for Canal+ as part of its expansion in Africa, particularly in English-speaking regions, while for MultiChoice, it will provide much-needed capital to supercharge its local content and innovation. Canal+, which spun off from parent company Vivendi ( opens new tab in December, made a firm offer last year of 125 rand in cash per MultiChoice share that it does not own, valuing MultiChoice at about 55 billion rand. The agreed conditions include a package of guaranteed public interest commitments proposed by the parties. The package supports the participation of firms controlled by Historically Disadvantaged Persons (HDPs) and Small, Micro and Medium Enterprises in the audio-visual industry in South Africa. "This package will maintain funding for local South African general entertainment and sports content, providing local content creators with a strong foundation for future success," the companies said. ($1 = 17.5543 rand)
Bloomberg
3 hours ago
- Business
- Bloomberg
Canal+ Gets Anti-Trust Approval for $3 Billion Africa Deal
Canal+ received South African anti-trust approval to buy MultiChoice Group Ltd., which will clear the way to make it the largest pay-TV and streaming business on the continent. The deal got the go-ahead from the anti-trust watchdog this week, enabling a transaction that values MultiChoice at about $3 billion. Canal+ has been buying up stock in the market since announcing the deal in 2024, and will now purchase the rest from shareholders.
ABC News
6 hours ago
- General
- ABC News
Bananas In Pyjamas (Animated)
ABC iview Home Watch all your favourite ABC programs on ABC iview. More from ABC We acknowledge Aboriginal and Torres Strait Islander peoples as the First Australians and Traditional Custodians of the lands where we live, learn and work.
News.com.au
7 hours ago
- Entertainment
- News.com.au
Netflix quietly scraps Prince Harry and Meghan Markle's lucrative Netflix deal after five years
Prince Harry and wife Meghan's $200 million deal with Netflix has been scrapped. The streamer will not renew their contract when it expires in September, The Sun reports. The Sussexes and Netflix have mutually decided not to make an official announcement, but streaming executives have quietly agreed to part ways. It comes after Harry's project, Polo, about the sport, was watched by just 500,000 people this year, according to Netflix's latest 'What We Watched' report, while With Love, Meghan was the 383rd most watched show, registering 5.3 million views. It's also understood that bosses were mildly infuriated by Meghan making her As Ever brand a priority. Meghan is still set to release the second season of With Love, Meghan later this year. 'The deal is done. No more shows will be made,' a source said. 'Netflix feel they've got all they can from the couple. 'Netflix were clever in that they got a hell of a lot of viewers for the first documentary series, and knew, realistically, it would prove the zenith of content from the Montecito pair. 'They're not unhappy with how things turned out — they got those initial hits, and produced one of the most talked-about shows of all time.' The source continued saying the 'content got weaker from there', though added there was no bad blood. 'There's no animosity from either side. Things have just run their course,' the source added. 'Netflix execs are well aware Meghan's priority now is her own brand, and they won't play second fiddle to that. 'Publicly, there will not be a statement and of course, if things change dramatically, they'd be open to a one-off project down the line. 'But for Harry, especially, this will be a blow. 'It's a huge loss of revenue.' Netflix CEO Ted Sarandos is believed to remain on good terms with Meghan. The source said streamer Paramount+ was thought to be keen to work with the couple, who would be open to it if the right project came along. Last month it was announced Netflix had signed a deal with King Charles and Idris Elba for a documentary exploring the impact of the King's Trust. And it was understood any deal with the Sussexes could be seen as a hindrance to that link-up.
Daily Mail
7 hours ago
- Business
- Daily Mail
Industry shock as free-to-air network is sold for just $1
In a major shake-up of New Zealand 's media landscape, Sky TV will buy Warner Brothers Discovery (WBD)'s free-to-air network for just one dollar. The announcement was made to the New Zealand stock exchange on Tuesday. Sky TV, which operates a pay-to-view service similar to Foxtel in New Zealand, will acquire all of WBD's television channels, including Three (formerly TV3), Bravo, Eden, Rush, HGTV, and BVOD catch-up service ThreeNow. Sky announced it had 'agreed to acquire 100% of the shares in Discovery NZ Limited from Discovery Networks Asia-Pacific Pte Ltd (a subsidiary of Warner Bros Discovery, Inc)' for $1 on a cash-free, debt-free basis. The shocking news comes five years after Discovery purchased Three from MediaWorks in 2020 for a rumoured US$20million. From A-list scandals and red carpet mishaps to exclusive pictures and viral moments, subscribe to the DailyMail's new showbiz newsletter to stay in the loop. Discovery said the completion of the sale is expected to take place on August 1. This deal will profoundly reshape the commercial TV and streaming landscape in New Zealand, as it forges the biggest media company in the country by revenue and audience — all for the price of a singular gold coin. In April last year, WBD confirmed the closure of its New Zealand newsroom Newshub, ending the 6pm and AM TV news bulletins on channel Three. Sky will assume all of WBD's ongoing commercial contracts, including a partnership deal with Stuff ( that was struck with WBD days after Newshub closed last year. The digital publisher has been providing ThreeNews since June 6, 2024. Effectively, the 6pm news moved online – with Stuff hiring several beloved Newshub presenters who had been made redundant. Sinead Boucher, who purchased the Stuff company from Australia's Nine Entertainment for $1 in 2020, said she is 'delighted' to see Sky bring TV3 back into New Zealand ownership 'for the first time in decades'. 'My word this industry moves at pace!' ThreeNews presenter Samantha Hayes posted to Instagram on Tuesday. 'I was only just getting around to marking our one year anniversary of ThreeNews this month and now another seismic shift in the media landscape with Sky buying Three, ThreeNow and Discovery NZ's many other assets. 'We'll keep making our 6pm news bulletin like we always do and I'm excited about what the future holds... watch this space!' Sky's chief executive Sophie Moloney told Stuff the deal made sense, both strategically and financially for the pay TV giant. 'We've made no secret of the fact we want to grow our advertising revenue and the one platform we're actually missing in that ecosystem was a BVOD [broadcast video on demand] platform,' she said. 'Ultimately, we think this shores up the local media ecosystem which we're thrilled to participate in.' Warner Bros. Discovery will remain in New Zealand through its 'highly successful' film production business WBITVP, suite of pay TV channels, and a content licensing deal with Sky's streaming platform, Neon. Kiwi media pundits are saying the $1 price tag indicates that Discovery NZ's parent, WBD, simply wanted to exit the free-to-air business. 'Our decision to sell the business follows an extensive review of options to ensure long-term success for our New Zealand operations,' Australia and NZ managing director Michael Brooks said. 'Advertiser behaviour has shifted, viewer habits have shifted, and we're still going through this digital transition,' he told Stuff. 'The media industry has changed right across the board. I don't think there's a market or a company that hasn't been impacted over the last few years.' The sale is the latest move in WBD's global restructuring efforts, as the media Goliath splits its businesses up. One arm of the company will focus on streaming, and the other on global networks - many of which were downsized, or shut down, across Europe in 2023. Brooks said the New Zealand sale has 'absolutely no connection' to the global restructuring efforts. Meanwhile, NZ Prime Minister Christopher Luxon was unbothered about the deal. 'Yeah, I saw those reports,' Luxon said in parliament.
