MultiChoice Group lists on the JSE as South African broadcasting regulator Icasa says it's 'concerned' that the listing went ahead while a MultiChoice complaint is being heard by the Compliance Committee.

The MultiChoice on Wednesday morning listed on the JSE with a market capitalisation of around R44 billion, while South Africa's broadcasting regulator, Icasa, hours later issued a statement saying it's concerned about Naspers and MultiChoice doing the listing when there's a pending complaint before its compliance committee.

"Today is a proud day for Naspers. Listing MultiChoice Group through an unbundling unlocks value for Naspers shareholders by creating the opportunity for them to own a direct stake in MultiChoice Group, a top-40 JSE-listed African entertainment group," says Bob van Dijk, Naspers CEO, in a statement.

The MultiChoice Group comprises MultiChoice South Africa Holdings, MultiChoice Africa Holdings, MultiChoice Botswana, MultiChoice Namibia, NMS Insurance Services SA, the African division of Showmax, Irdeto Holdings and Irdeto South Africa.

"We are also very pleased to be able to create further value for Phuthuma Nathi shareholders, who, through MultiChoice South Africa, have already participated in one of South Africa’s most successful empowerment schemes."

Calvo Mawela, MultiChoice Group CEO, in the statement says "Today’s listing is an important milestone in our exciting journey of growth".

"As one of the fastest growing pay-TV broadcast providers globally, our strong financial position at listing is backed by attractive long-term growth opportunities in both subscriber numbers and revenue. The MultiChoice Group has a highly cash generative core with no financial debt, and we are poised to deliver value to our shareholders over time."

"We are overwhelmingly positive about MultiChoice Group's future. With the largest pay-TV footprint across Africa, we understand our customers and tailor our offering and services to suit market-specific video entertainment needs."

"This, coupled with a leading content offering, world-class technology and infrastructure, pan-African scale and strong in-country capabilities, positions us well to generate shareholder returns and future growth," said Calvo Mawela.

Meanwhile the Independent Communications Authority of South Africa (Icasa), in a statement issued just after 11:0 after MultiChoice Group already listed, Icasa said it "is noting with concern that the listing of the MultiChoice Group seems to be going ahead when there is a complaint against it before the Complaints and Compliance Committee".

"On 23 January 2019, Khulisa Social Group NPC (Khulisa) lodged a complaint with the CCC against MultiChoice in respect of the listing," says Icasa.

"In its complaint, Khulisa stated that the upcoming listing of the Multichoice Group on the JSE will result in a contravention of Section 13(1) of the Electronic Communications Act 0f 2005 (ECA), as amended."

"Section 13(1) of the ECA states that 'an individual licence may not be let, sub-let, assigned, ceded or in any way transferred, and the control of the individual licence may not be assigned, ceded or in any way transferred to any other person without the prior written permission of the Authority."

"MultiChoice appeared before the CCC on Monday, 18 February 2019 where the licensee argued that the matter was not urgent and that the listing had not taken place. MultiChoice further argued before the Committee that, in any case, there was no past contravention by the licensee and that the CCC had no jurisdiction over future events."

"Icasa is indeed concerned that the listing seems to be going ahead whilst the CCC is still considering representations that were made and yet to make its final recommendations on the matter to Council of the Authority,” said Icasa.

BREAKING. MultiChoice Group sets 27 February 2019 as its listing date on the JSE, company focused on 'pay-TV growth opportunities across Africa'.

The MultiChoice Group plans to list and start trading shares on the JSE on Wednesday 27 February 2019 with Calvo Mawela, MultiChoice Group CEO, saying the company is focused on growth pay-TV opportunities across Africa.

The MultiChoice Group made the announcement on Monday evening after local markets had closed for the day.

Naspers and its pay-TV arm MultiChoice announced in 2018 that it plans to spin-off The MultiChoice Group as a separate company and to list it on the Johannesburg Stock Exchange.

 In September 2018 it was announced that The MultiChoice Group will include MultiChoice South Africa, MultiChoice Africa, its video streaming service Showmax, as well as the global digital platform security provider Irdeto.

Now The MultiChoice Group plans to list on 27 February 2019 in the "broadcasting and entertainment" sector of the JSE.

"We believe the listing of MultiChoice provides an excellent opportunity to invest in the leading provider of video entertainment on the African continent," says Calvo Mawela in a statement on Monday announcing the 27 February JSE date.

"The MuliChoice Group brings an incomparable local and international content offering to around 14 million households and is one of the fastest growing pay-TV broadcast providers globally."

"With strong financials, the flexibility of an ungeared balance sheet and deep local knowledge, we hope to deliver excellent returns to shareholders over time," says Calvo Mawela.

"The MultiChoice Group management team is focused on the growth opportunity across Africa, a market of significant TV consumption by global standards. Pay-TV and connected video remain under-penetrated on the continent compared to many other markets in the world and MCG intends to pursue both these avenues of growth."

Bob van Dijk, Naspers CEO, said "The strength of the company’s leadership team, alongside its compelling content, world-class technological capabilities and attractive financial profile means that it is very well positioned for future growth in an evolving sector on the African continent."

The MultiChoice Group says it creates and showcases unparalleled local content and has access to international content from 8 of the top 10 studios in the United States, including movie and children's content.

The MultiChoice Group is also the continent's largest funder of sport, providing sports offerings and holding major international as well as local sports rights. 

The MultiChoice Group employs more than 11 000 people across Africa and indirectly helps with the economic empowerment of more than 20 000 people who are employed by partners and suppliers.

Naspers does executive shuffle for the newly-created MultiChoice Group before its planned spin-off and listing on the JSE in 2019, with Calvo Mawela as CEO.

Naspers that has dumped and respawned its Naspers Video Entertainment unit as the MultiChoice Group business, has done an executive shuffle and appointments with Calvo Mawela as new MultiChoice Group CEO.

Naspers plans to spin-off MultiChoice as its own business that plans to list on the Johannesburg Stock Exchange (JSE) during the first half of 2019.

Naspers has announced Calvo Mwela as the new chief executive officer (CEO) of the MultiChoice Group. Until now Calvo Mawela has been the MultiChoice South Africa CEO.

Calvo Mawela's appointment as CEO of the MultiChoice Group is effective from 1 November, along with other appointments and reshufflings as part of the top management shake-up as MultiChoice gets ready to unbundle from Naspers.

The other appointments at the new MultiChoice Group are Brand de Villiers as chief operating officer (COO), Tim Jacobs as chief financial officer (CFO), and Imtiaz Patel as executive chairperson of the MultiChoice Group.

The MultiChoice Group incorporates MultiChoice South Africa, MultiChoice Africa, the streaming service Showmax in South Africa and Africa, and Irdeto.

There's been no word yet on what happens to Mark Rayner who until now has been the MultiChoice South Africa COO.

"This announcement marks a significant step for the MultiChoice Group as they journey towards a standalone business," says Bob van Dijk, Naspers CEO in a statement announcing the MultiChoice Group creation and management shuffle.

"I am confident that through the leadership of Imtiaz and Calvo, MultiChoice Group will continue on its growth trajectory and unlock even more value for its shareholders."

BREAKING. Naspers to spin off and list its video entertainment business MultiChoice on the JSE as the MultiChoice Group including MultiChoice SA, MultiChoice Africa and Showmax in Africa during first half of 2019.

Naspers, as expected, announced late on Monday that it plans to spin off and list its video entertainment business, MultiChoice on the Johannesburg Stock Exchange (JSE) during the first half of 2019, comprising of MultiChoice South Africa, MultiChoice Africa, Irdeto and its Showmax streaming service in Africa.

Naspers made noise earlier this year signaling its plans to get rid of MultiChoice and its pay-TV division in the form of a separate stock market listing since it no longer offer as much value and more importantly as much growth potential as Naspers' main investment focus that is its internet business component.

By spinning out and essentially "unbundling" its video entertainment division, MultiChoice - that is profitable - helps to reduce the overall size of Naspers.

"This marks a significant step for the Naspers Group as we continue our evolution into a global consumer internet company," says Bob van Dijk, Naspers CEO, in a statement.

Imtiaz Patel, Naspers video entertainment CEO, says "Listing and unbundling MultiChoice Group is intended to create a leading entertainment business listed on the JSE that is profitable and cash generative. We offer an unmatched selection of local and original content, as well as a world-class sports offering."

"Our leadership team is diverse, experienced and well-positioned to take the company forward. I am particularly pleased that this transaction will further enhance the value for Phuthuma Nathi shareholders."

"There are significant growth opportunities for MultiChoice Group in Africa. The combination of MultiChoice’s reach, Showmax and DStv Now's cutting-edge internet television service, alongside Irdeto’s 360 security suite will provide a unique offering."

Naspers says its video entertainment business is one of the fastest growing pay-TV operators globally and thatits multi-platform business reaches 13.5 million households across Africa.

"In the last financial year, the business added 1.5 million subscribers, and generated revenue of R47.1 billion and trading profit of R6.1 billion. It employs more than 9 000 people in Africa and indirectly creates economic prosperity for over 20 000 more who are employed by its various partners and suppliers across the continent."

Naspers says the MultiChoice Group is expected to be unbundled "with limited leverage", "providing it with the necessary financial flexibility to pursue growth opportunities in African video entertainment".

"The business is also positioning itself for the future by offering online streaming services, including Showmax and DStv Now".

Naspers will retain its primary listing on the JSE as well as its interests in Media24. MultiChoice Group is anticipated to list on the JSE and simultaneously unbundle in the first half of 2019, subject to the approval of the requisite regulatory authorities.

ANC political party's chief whip Jackson Mthembu calls for a parliamentary investigation into MultiChoice over dubious ANN7 and SABC dealings: 'If we want to call that State Capture, I have no problem'.

Dr Jack & Curtis cartoon on Radio 702's EyewitnessNews (EWN) 


Jackson Mthembu, the ANC political party's chief whip on Tuesday called for an urgent parliamentary investigation into media conglom Naspers and its pay-TV unit MultiChoice amidst a growing scandal of allegations regarding improper corporate influence by the pay-TV company on South Africa's digital TV process.

Naspers and MultiChoice are increasingly mired in a barrage of damaging news headlines and revelations regarding MultiChoice's alleged undue corporate influence on the controversial Gupta family's ANN7 (DStv 405) channel and the SABC to allegedly help influence the South African government's policy on digital TV in MultiChoice's favour.

Jackson Mthembu, the ANC communications committee chairperson, addressed journalist at the ANC's Luthuli House headquarters on Tuesday afternoon ahead of the political party’s 54th national elective conference.

"The matter should be investigated and all those who might have done things not in accordance with our stated objectives must be called to account after a proper investigation," Jackson Mthembu said.

"Now if we want to call that state capture, I have no problem."

"If you want to benefit and you then want to influence government policy towards your benefit as a private citizen or corporate citizen, indeed you might be trying to capture the state for your benefit," Jackson Mthembu said.

At issue is whether the media conglom's lucrative pay-TV unit is or was involved in undue pressure to get the controversial Gupta family through their ANN7 channel, and the SABC, to exercise pressure in return for getting their TV news channels carried on MultiChoice's DStv satellite pay-TV platform.

Explosive, leaked meeting transcripts between MultiChoice and the South African public broadcaster the SABC, as well as #GuptaLeaks contracts between MultiChoice and the controversial ANN7 D(Stv 405) channel showing massive payments from DStv to the Guptas, have raised multiple serious questions over corporate impropriety.

MultiChoice told the SABC it would pay the broadcaster R100 million for the SABC News channel but but only on the strict must-have contract clause condition that the SABC must support MultiChoice's stance on conditional access (CA) for digital television.

MultiChoice also dramatically upped its payments from R50 million per year to R100 million per year and then R141 million per year, as well as a questionable, additional R25 million payment to the Guptas for the low-rated, bad quality, mistake-filled and often criticised ANN7.

MultiChoice is paying ANN7 more despite its barely there low ratings than eNCA (DStv 403) that has more than 50% of the overall TV news audience share.

It's all created the perception that MultiChoice has paid kickbacks to both the SABC and ANN7 to use its influence to get set-top box (STB) encryption dropped from government-subsidised STBs in the switch to digital terrestrial television (DTT).

MultiChoice and Naspers that have denied the kickbacks allegations and have been very slow to respond to the growing avalanche of criticism and calls for parent company Naspers and its chairperson Koos Bekker and CEO Bob van Dijk - not MultiChoice - to launch an independent investigation into the shocking allegations.

On Tuesday Naspers shares tumbled 4% on news that the United States law firm, Pomerantz - specialising in class action securities law suits - has started its own investigation into possible Naspers securities fraud and other unlawful business practices.

Naspers and MultiChoice now facing a possible class action law suit in America as Pomerantz law firm investigates claims on behalf of Naspers investors.

Media conglom Naspers and its pay-TV arm MultiChoice could now be facing a possible class action law suit in America after an America law firm announced that it's starting an investigation on behalf of Naspers investors into Naspers.

It's the latest fallout amidst the widening scandal of allegations of corruption, collusion and undue corporate influence from Naspers' MultiChoice unit to allegedly try and sway and influence South Africa's long-stalled digital migration switch from analogue to digital TV.

Explosive, leaked meeting transcripts between MultiChoice and the South African public broadcaster the SABC, as well as #GuptaLeaks contracts between MultiChoice and the controversial ANN7 D(Stv 405) channel showing massive payments from DStv to the Guptas, have raised multiple serious questions over corporate impropriety.

MultiChoice told the SABC it would pay the broadcaster R100 million for the SABC News channel but but only on the strict must-have contract clause condition that the SABC must support MultiChoice's stance on conditional access (CA) for digital television.

MultiChoice also dramatically upped its payments from R50 million per year to R100 million per year and then R141 million per year, as well as a questionable, additional R25 million payment to the Guptas for the low-rated, bad quality, mistake-filled and often criticised ANN7.

MultiChoice is paying ANN7 more despite its barely there low ratings than eNCA (DStv 403) that has more than 50% of the overall TV news audience share.

It's all created the perception that MultiChoice has paid kickbacks to both the SABC and ANN7 to use its influence to get set-top box (STB) encryption dropped from government-subsidised STBs in the switch to digital terrestrial television (DTT).

MultiChoice and Naspers that have denied the kickbacks allegations and have been very slow to respond to the public perception brand and reputation crisis, have been overly arrogant where it did respond and in instances where executives spoke publicly.

Naspers' CEO Bob van Dijk and chairperson Koos Bekker both bristled with hardly contained anger and irritation in a few media interviews done saying Naspers isn't going to get directly involved in dealings with its MultiChoice subsidiary.

The bad and slow corporate crisis communication combined with the arrogant and caustic attitudes of Koos Bekker and Bob van Dijk have done little to sway public sentiment and to create any sympathy for Naspers and MultiChoice.

After a week, the MultiChoice board finally announced that MultiChoice will launch an internal investigation into itself on the matter.

MultiChoice didn't specify in its announcement, and didn't respond when asked if the outcome of the investigation will be made public.

Now an American law firm, Pomerantz LLP is looking for Naspers investors who want to start a class action law suit against Naspers and in a public statement says "Pomerantz LLP is investigating claims on behalf of investors of Naspers Limited".

"The investigation concerns whether Naspers and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices."

Pomerantz has now created an online page where Naspers investors can join a possible class action suit.

"On December 1, 2017, Naspers reported that its wholly-owned television unit MultiChoice had initiated an investigation into whether improper payments were made to ANN7, a South African news channel owned by the politically-connected Gupta family."

"According to local media, citing leaked emails, MultiChoice substantially increased its annual payment to ANN7 from R50 million to R141 million rand ($10 million) over the past two years."

"On this news, Naspers' American Depositary Receipt price fell $3.05, or 5.58%, to close at $51.60 on December 1, 2017."

"The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation," says the law firm.

Pomerantz says it fights "for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The firm has recovered numerous multi million dollar damages awards on behalf of class members."

The company said Naspers investors can contact the American law firm by reaching out to Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 9980

As the scandal that has engulfed DStv keeps growing over dealings with the Guptas and ANN7, MultiChoice finally relents after public pressure; says it will now investigate possible corruption.

MultiChoice has finally bowed under growing public pressure as a widening scandal involving its massive payments to the controversial Gupta family for the ANN7 (DStv 405) channel has engulfed the pay-TV operator running the DStv service, and said on Friday morning that MultiChoice will now conduct an investigation into possible corruption and governance failures.

On Tuesday this week TVwithThinus asked MultiChoice if it will possibly undertake or is going to undertake any investigation following the various #GuptaLeaks emails, contracts and email trail linking MultiChoice, the disgraced former minister of communictions, the Gupta family and the ANN7 TV channel.

MultiChoice didn't want to give any clear yes or no answer and simply said in response to the media enquiry that there was nothing unusual or inappropriate about its interactions with the minister and its contract with ANN7.

The past week, since last Friday's latest revelations of allegedly inappropriate dealings between MultiChoice and the Guptas over ANN7 - including questionable payments together with exorbitant amounts of money paid by DStv to the Guptas for the highly-criticised and low quality ANN7 channel - MultiChoice and Naspers has been enveloped in a growing tsunami of bad press and an avalanche of public criticism.

MultiChoice upped its payments to ANN7 from R50 million per year to R100 million per year and then a whopping R141 million per year and threw in a questionable R25 million once-off payment.

These MultiChoice payments have been made while ANN7 has remained mired in biased, slanted coverage and has been accused of fostering racial discord in South Africa through its one-sided coverage - particularly contantly slating politicians and people who are against State Capture and president Jacob Zuma's alleged looting of the public purse.

Meanwhile ANN7's on-air mistakes and embarrassing gaffes, including low production values continues unabated.

On Friday morning MultiChoice issued a statement saying that because MultiChoice's reputation has been "negatively impacted" it will now launch a probe into the ANN7 deal and whether there's been any corporate governance failures at MultiChoice".

MultiChoice is investigating itself, instead of any independent, external investigation by group owner Naspers where Naspers chairperson Koos Bekker has been dismissive of criticism from the public and investors about possible corrupt dealings by MultiChoice, and where CEO Bob van Dijk bristled with irritation in the week when asked by Naspers isn't investigating the allegations.

MultiChoice isn't saying whether the outcome of the investigation will be made public once it has been concluded.

In the MultiChoice statement, attributed to Don Eriksson, an independent non-executive director in his role as the chairperson of MultiChoice's audit and risk committees, Don Eriksson said the MultiChoice board is "aware that the ANN7 channel has caused real public concern".

"The MultiChoice board has read the various media reports alleging that MultiChoice has entered into an irregular relationship for the carriage of the ANN7 channel".

"The board is aware that the ANN7 channel has caused real public concern because of the allegations of corruption levelled at the former owners of the channel".

"These allegations have negatively impacted the reputation of MultiChoice. The MultiChoice board has therefore instructed its audit and risk committees to assess whether there has been any corporate governance failures at MultiChoice and report back to the board".

"Based on what is contained in that report, the MultiChoice board will take the necessary action; assess whether the total amount paid to ANN7 is comparable to payments made for other locally-produced channels with due consideration being given to the estimated costs of running a 24-hour news channel."

MultiChoice says it will also "draw on any expertise and skills necessary in order to fulfil the mandate given by the board".

"In addition, Adv Kgomotso Moroka, one of the MultiChoice board members, was requested by the board and has agreed to, assist the audit and risk committees in this matter".

After MultiChoice paid the controversial Gupta family - involved in widespread allegations of State Capture and improper transactions with multiple state-owned enterprises and other companies worth billions of rand - the Guptas earlier this year sold ANN7 to Mzwanele "Jimmy" Manyi's Afrotone Media Holdings.

M-NET AT 30: M-Net celebrates 30 years as pay-TV broadcaster with special stars and Trevor Noah.

On Thursday night a phalanx of stars – from TV talent and media, to TV executives, politicians and musicians – from across the entire Africa showed up at pay-TV broadcaster M-Net's dazzling 30th birthday celebration.

Toasting with Moët & Chandon champagne as massive surround sound video walls replayed iconic M-Net nostalgia ranging from beloved yesteryear M-Net and SuperSport theme songs to modern day TV magic, guests inside the massive marquee tent at MultiChoice City in Randburg "ooh"-ed and "aah"-ed at three decades of unforgettable television entertainment.

Afropop star Claire Johnston from Mango Groove sang "Special Star" as guests tucked away at everything from smoked salmon trout and nordic shrimp to beef mignon with potatoes, followed by a dessert and cheese emporium.

Following a magical exhibition of M-Net highlights over the past 30 years in the MultiChoice City atrium, guests watched in delight as M-Net, that dug deep into its video vault archive, took attendees on a "remember that?" visual journey of sound and colour through its iconic programming of the past three decades.

Other performers included The Voice SA winner Richard Stirton, former Idols winner, Khaya Mthethwa, and The Voice SA coach Kahn Morbee of The Parlotones.

African songbird Lira, moved the audience with several songs including an emotional In Memorian tribute to all the people who've worked to bring the M-Net magic over the past 30 years and who had passed away as their names flashed across the giant screens.

'The magic is in the stories we tell'

The South African comedian Trevor Noah, now host of Comedy Central's The Daily Show, appeared in a recorded stand-up act throughout the night as a hologram projection and said M-Net didn't stop with just one TV channel when it launched in October 1986 "but thought about the whole African continent".

"M-Net is an African show, this is an African channel and they took it out there. And you've got different magic now – not just Mzansi Magic. You've got Maisha Magic Bongo, Maisha Magic and Africa Magic!"

Trevor Noah said while Americans have and know "ketchup" as tomato sauce, South Africans and Africans know and love DStv Catch Up – MultiChoice’s TV on demand video service.

"We’re going to be watching on our phones, we're going to be watching on our laptops. We don't even know what TV of the future will be. For all we know it's going to be on the inside of our eyes."

"But the most most important thing , and you know this if you're an African," said Trevor Noah, "is that the story will always remain the most important thing – and I'm glad that M-Net invest in the community and are producing the content that people really want to see. TV is merely a platform but the magic is in the stories that we tell."

Ferdinand Rabie, the first winner of Big Brother South Africa, told TVwithThinus that "I just want to thank M-Net who ensured that when I was a high school laaitie that M-Net always ensured that there was something to watch on a Sunday evening when you’re in school res after a wonderful weekend. And thanks for throwing me out there and giving exposure with Big Brother!"

Bob van Dijk, Naspers CEO said M-Net’s "profound success" wouldn’t have been possible without the support of the media and stakeholders without whom “M-Net could have never been what it is today”.

Yolisa Phahle, M-Net CEO said "M-Net is a proudly African company committed to telling the best international and African stories."

"But the company's greatest achievement is the remarkable and diverse group of people who bring this enduring brand to life in so many ways each day. To make real magic you have to believe in it, so thank you to everyone for choosing to believe."

'M-Net has helped to give Africa a different voice'

Wangi Mba-Uzoukwu, M-Net's regional director for West Africa, told TVwithThinus "congratulations M-Net, they've achieved a lot in three decades, investing in talent and telling African stories in a unique way".

"Local language is a big thing. My part of M-Net is looking after Africa. A lot in investment has gone into talent and building talent. We've got big shows like Tinsel going into its 10th season. It's a huge investment. M-Net has helped to give Africa a different voice; to help people see Africa in a different light."

"Africa isn't doom and gloom. There's tremendous talent in Africa and M-Net Africa helps to showcase the talent in front of and behind the screen and I’m personally so proud to work for M-Net and to manage the Africa Magic brand."

Lalla Hirayama, the face of M-Net Movies and presenter of Lalla Land said "Happy, happy birthday M-Net! You’re such an incredible force in African television the past three decades. To be part of a brand that’s delivered so much magic to the homes of South Africans is such an honour. God bless you and may we see another 60, 90 years of magic!”

Gideon Khobane, SuperSport CEO told TVwithThinus on Thursday night that “M-Net changed all our lives. When I was young we watched Open Time. Then we got a decoder. Then started working and got DStv. It’s been the pinnacle of entertainment”.

“I’ve worked at SABC and when I was there I said to myself one day I want to work at M-Net. And then I’ve been fortunate enough to work at M-Net. Now I’m at SuperSport and SuperSport was M-Net’s baby. So congratulation and all the best for another 30 years”.

The minister of communication Faith Muthambi said M-Net introduced reality TV with shows like Big Brother, Idols, Survivor SA. “The original channels and shows it created reflects the diversity of languages and tastes of viewers. M-Net has made a huge investment in talent and industry to create this magic.”

Nolo Letele, MultiChoice South Africa chairperson said “[in] 30 years of history M-Net hasn’t rested on their laurels. They continue to find new formats in broadcasting. They broadcast in local languages. And they invest substantially in local productions. May the magic never stop.”