JOHANNESBURG — South African pay television station M-Net has listed itself on the Nigerian stock exchange (NSE), taking the company into the most populous market in Africa.
The Nov. 19 listing by M-Net and its sister sports channel Supersport marked the first entry of a foreign company onto the NSE.
Some 800,000 shares changed hands on the first day of trading at an average price of 92.39 naira (93¢).
M-Net executives believe that by listing on the NSE, the South African company will eventually attract an additional 1 million subs to add to its existing subscriber base of 1.2 million, most of them in South Africa.
Popular on Variety
John Krasinski Reveals 'A Quiet Place' Birthing Scene Took One Take
Sam Elliott on the Moment 'Everybody Just Stopped' on 'A Star Is Born' Set
Unrolling the Masterful Sushi Scene in 'Isle of Dogs'
Emily Blunt and Hugh Jackman on What Makes a Great Musical
Mahershala Ali on Fighting for a Black Lead on 'True Detective'
Timothee Chalamet, Emma Stone on Being Rejected by Tim Burton
Timothee Chalamet Wept the First Time He Watched Himself on 'Interstellar'
Why 'Shallow' Is One of the Most 'Authentic' Songs Lady Gaga Has Ever Written
Lady Gaga on Broadway, Auditioning for 'Rent'
Why 'Black Panther' Had a 'Cathartic' Effect on Charlize Theron
The long-running legal battle between Frank Darabont and AMC over profits from “The Walking Dead” will run a bit longer, as a judge ruled Monday that the case must go to trial. Darabont and CAA sued the network back in 2013, arguing he was deprived of $280 million in profit participation because AMC did not [...]
BWR’s Steven Wilson, Ron Hofmann, and Hayley Antonian have announced the formation of a new communications company, Scenario, headquartered in Los Angeles and New York. Together, Wilson, Hofmann, and Antonian will serve as co-presidents while providing integrated communication strategies for clients across the entertainment, lifestyle, and technology industries. Entrepreneur and business strategist Brian Lee will work alongside [...]
After four years overseeing content operations at IMG, Mark Shapiro has been promoted to president of Endeavor. Shapiro’s elevation to the newly created post comes as Endeavor has expanded dramatically during the past few years, starting with its acquisition of IMG in 2014. Endeavor is now the parent company of WME, IMG, UFC and other [...]
Rhapsody and Sony Music Entertainment today announced a partnership to launch what they describe as the first on-demand, high-resolution streaming music service in Japan. Rhapsody International is providing its “Powered by Napster” platform including a set of systems, tools and APIs to allow SMEJ to quickly launch and bring its on-demand service to market. The service, [...]
Chinese e-commerce giant Alibaba is to take majority control of its films unit Alibaba Pictures. The $160 million (HK$1.25 billion) deal was announced Monday. The companies said that Alibaba would increase its stake in Hong Kong- and Singapore-listed Alibaba Pictures through a share subscription. It will lift the parent company’s stake from 49% to 51%, [...]
Ever since Jon Platt announced in September that he will be stepping down from his post at the helm of Warner/Chappell Publishing to take the top job at Sony/ATV when Martin Bandier’s contract is up at the end of March, speculation has been rife about who will take over for him. One name has been [...]
Nothing takes you back to time and a place like the music of a particular era. That’s one big reason why music documentaries are flourishing at a time of enormous demand for high-end docu productions. This year’s five Grammy Award nominees for best music film reflect the appetite for stories about renowned and beloved musical figures, [...]