MultiChoice is bracing for a major organizational shake-up following its acquisition by French media giant Groupe Canal+. While a three-year retrenchment moratorium imposed by South African competition authorities temporarily protects local workers, industry experts warn it may merely delay deeper job cuts rather than prevent them entirely. Read: Bandwidth Blog & Smile 90.4FM Tech Tuesday:…
Groupe Canal+ CEO Maxime Saada has candidly addressed the financial challenges facing Showmax, admitting that the MultiChoice-owned streaming platform has failed to achieve commercial success. During a recent investor call following Canal+’s acquisition of MultiChoice, Saada noted that the service has been a significant financial drain, losing substantial capital over the past several years. Read:…
Cairo — The new President unveiled a strategy aimed at breaking the continent’s economic dependence. The African Export-Import Bank (Afreximbank) opened new chapter with the inauguration of Dr. George Elombi as President and Chairman of the Board of Directors. The ceremony, which formalized the transfer of leadership from Professor Benedict Oramah ‘s decade-long tenure, was…
Starbucks says it will close underperforming stores across North America as CEO Brian Niccol pushes ahead on a company restructuring effort, which is expected to cost $1bn in a bid to revive the company’s flagging sales. The coffee chain announced the decision on Thursday. Recommended Stories list of 4 itemsend of list Overall, store count…
Inside the MultiChoice City building in Randburg, Johannesburg. MultiChoice, which is being bought by Canal+ in a $3 billion deal, has received all the approvals it needs to restructure the company, ensuring the new entity has empowerment shareholders. The purchase amount currently equates to R52.2 billion, based on this morning’s exchange rate of R17.36. In…
Linda Yaccarino has resigned as CEO of X after nearly two years leading Elon Musk’s social media company. Her departure comes at a turbulent time for the platform, just one day after its Grok chatbot began pushing antisemitic tropes in user responses – though a direct link between these events is not yet confirmed. Read:…
Blue Label was co-founded and is led by co-CEOs Mark Levy and Brett Levy Blue Label Telecoms, the JSE-listed company that’s in the process of taking control of mobile operator Cell C, has announced it plans to change its name. The name change, which is still subject to shareholder approval, comes as the group undergoes…
United Nations — A coalition of UN staff unions, led by the 60,000-strong Coordinating Committee of International Staff Unions and Associations (CCISUA), has written to UN member states criticizing the UN80 reform process as “incoherent and lacking strategy”. The union, one of the largest single coalitions in the world body, is asking the 193 member…
