Naspers To Spin-Off MultiChoice And List It On The Johannesburg Stock Exchange (JSE)
According to industry sources, Naspers, the principal owners of Multichoice, has announced it will spin-off the Satelite TV company with a broad footprint in Africa - broadcasting, by some estimates, across 50-52 Africa countries.
Industry sources confirm that the newly listed company would be called "Multichoice Group" and would include Multichoice South Africa, Multichoice Africa, Showmax and Irdeto.
Bob Van Dijk, Naspers Chief Executive, says that "the listing of Multichoice Group, via an unbundling strategy, will unlock value for Naspers shareholders and drive the company forward as the foremost entertainment company in the region.
Multichoice, as part of Naspers Video Entertainment division, was reported to be profitable, employing more than 9,000 people across Africa.