• Inside Labour

    Terry Bell explores the connection between poultry, poverty and desperation.

  • A new ANC sweeper?

    Have the Guptas' new auditors mastered how to look the other way on cue, asks Solly Moeng.

  • Strategy for the big boys

    Formulating strategy across the span of huge companies is a marathon, says Ian Mann.

All data is delayed
See More

MultiChoice backs R500m TopTV rescue bid

Apr 30 2013 10:24
Cape Town - MultiChoice, owned by Naspers, has confirmed rumours that it will fork out R500m for a loan to buy out troubled pay-television rival TopTV, reports BDlive.

The DStv pay-channel giant put itself forward as the financial backer in an 11th-hour move that may block Chinese consortium StarTimes and so keep the pay-TV service in South African hands, according to the website.

The MultiChoice offer involves an empowerment consortium under the name Dynamic TV, which includes Given Mkhari's MSG Afrika Media Group as well as Malose Kekana of Falk Trading, businessman Mkhari confirmed on Monday.

MultiChoice CEO Imtiaz Patel brushed off the matter of potential competition issues, saying the deal is a "tangible demonstration of MultiChoice’s ongoing commitment to enterprise development and empowerment".

According to Sapa, MSG Afrika Media is a black-owned media and communications group with interests in radio, advertising, and television production. Falk Trading Proprietary is wholly owned by the Kekana Trust.

*Fin24 is owned by Naspers.

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

naspers  |  multichoice  |  toptv


Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Company Snapshot

We're talking about:


Marketing is a big concern in SA's small business community, followed by a lack of confidence and partnering with the wrong people, according to a survey.

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

The drop in inflation:

Previous results · Suggest a vote