Canal+ gets conditional approval for MultiChoice takeover
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 (VIV.PA), 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)
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The Guardian
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BBC News
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Documents wey you need to get house for Lagos as govment list ova 100 illegal estates for di state
Lagos state govment don give 176 illegal estate developers 21-day ultimatum to process dia layout approvals. Di Office of Physical Planning for one statement on Monday, 4 August list di estates wey dey mostly for Eti-Osa, Ajah, Ibeju-Lekki, and Epe axis of di state. Permanent Secretary, Office of Physical Planning, Oluwole Sotire, tok say di estates dey illegal sake of dia failure to obtain layout approvals from di Ministry of Physical Planning and Urban Development. E add say di illegal estates no follow di "sustainable development ethos and di T.H.E.M.E.S+ Agenda of di Lagos state govment as dem dey operate witout approved layouts. Oga Sotire give di owners of dis estates 21 days to submit necessary documents to process dia layout approvals for di ministry. Tok-tok pesin to di ministry Mukaila Sanusi tell BBC Pidgin say failure of di estate owners to comply go lead to sealing off of di estate. List of di 176 identified estates Di identified illegal estates wey mostly dey located for Lagos Island include; Wetin be layout approvals and how to get am Layout approval wey also dey known as building permit or planning permit na legal authorisation from di state wey Lagos State Physical Planning Permit Authority (LASPPPA) dey give to confam say construction project dey in line wit di state planning, zoning and safety regulations bifor construction start. Di layout approval na to ensure say di building follow wetin di Lagos State Urban and Regional Planning and Development Law tok to prevent authorised construction. According to wetin Laspppa write for dia website, e go take 28 days for dem to process and approve applications afta di final screening and payment of permit processing fee. Di documents dem go need na;
