Econet Media: Company acquires Ghanaian, Nigerian, Ugandan TV channels
Per the deal, Econet Media will assume ownership of Viasat 1 and Modern African Productions (MAP) via an acquisition of all MTG assets in Ghana.
Econet Media, the entertainment subsidiary of telecoms company Econet Wireless, has recently announced a deal that will see it take over Viasat 1, a Ghanaian free-to-air channel.
Kenyan Wall Street reports that Viasat 1 is owned by a Swedish digital entertainment company that also has a majority stake in Trace Africa and Modern African Productions.
Per the deal, Econet Media will assume ownership of Viasat 1 and Modern African Productions (MAP) via an acquisition of all MTG assets in Ghana as well as MAP’s broadcasting operations in Ghana and Nigeria.
MTG is also offloading a Tanzanian station as part of the Econet deal which will be approved by board members of all parties in early 2017, according to the Kenyan Wall Street report.
The deal comes shortly after Econet Media secured the green light to acquire Wava Broadcasting Station (WBS TV) in Uganda by the country’s communication commission and the Uganda Broadcasting Corporation after Econet placed a bid earlier this year.
Once the deal is completed, Econet Media is expected to rebrand all Viasat 1 and WBS stations to Kwese Free Sports. Those stations will become the latest Econet Media-owned channels – now in 19 countries – to air Kwese Sports content 24/7.
Econet Media will reportedly also retain all current staff as the acquisitions get finalised.