by Thinus Ferreira
On Tuesday Bloomberg reports that some of the private equity shareholders in Primedia are considering selling their stake in the company.
A possible deal values Primedia - the owner of radio stations like 702, CapeTalk, 947, Kfm and the Eyewitness News (EWN) - at between $350 million and $500 million.
Primedia is owned by EP Capital Partners Ltd., FirstRand Ltd., Old Mutual Ltd. and the Mineworkers Investment Trust with Jonathan Proctor as CEO.
Also underway is Canal+'s aggressive buyout process to take over MultiChoice as Africa's largest pay-TV operator with MultiChoice's special board that approved Canal+ bid to gobble up the company that is technically insolvent.
Primedia, founded in 1994 and operational across 7 other African countries besides South Africa, has launched Primedia Studios that acquires international format rights to shows and now produce shows like Deal or No Deal SA, Wheel of Fortune SA, MasterChef SA and The Masked Singer SA for the SABC's various linear TV channels.
Primedia now also sells content to video streaming services like Netflix and Apple TV+, and recently started a sports division for advertising and sponsorships.
