Outgoing MultiChoice chair Imtiaz Patel played a leading role in the partnership deal between Showmax and Comcast.
MultiChoice has paid former chair Imtiaz Patel a bonus of $1.25 million for playing a leading role in the partnership deal between Showmax and US content group Comcast.The former chair achieved two key deliverables within a period set by MultiChoice, which specified that 50% of the bonus was payable on the signing of all required agreements by April 2023.
In September 2023, MultiChoic announced that Patel would step down on 1 April 2024. He would remain involved as a consultant to MultiChoice until October 2028. “Mr Patel has agreed to extend his tenure until the conclusion of the Canal+ transaction or such sooner date as may be determined in light of progress on the transaction,” it said.
MultiChoice and Canal+ entered into a cooperation agreement on 7 April 2024 and published a notice of firm intention the day after. Since its agreement with the South African broadcaster on 7 April, the French media giant has gradually increased its shareholding in MultiChoice. Its creeping takeoverIt acquired the shares between 8 and 10 May 2024, paying between R119.44 and R119.68.
The French media giant has been notifying the market of its MultiChoice share purchases through the Takeover Regulation Panel since the companies revealed that it broke through the 40% ownership mark.
Headline Imtiaz Patel Multichoice Multichoice Board Broadcasting
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Orlando Pirates Prepare a Transfer War Chest for Next Season After Securing Over R23 MillionAfter winning beating Mamelodi Sundowns 2-1 on Saturday, 1 June 2024, Orlando Pirates are celebrating winning over R23 million in cash prizes this season.
Read more »
Orlando Pirates: R23.1 million in the bankOrlando Pirates enjoyed another successfull season with two trophies and a second-place position. This delivered over R23 million in the bank.
Read more »
R23 million into Orlando Pirates’ bankOrlando Pirates had more success in 2023/24 with two cup titles. Finishing second in the DStv Premiership meant more millions.
Read more »
Fake cops arrested for allegedly extorting R23 000 from suspected adultererThe accused are believed to be part of a gang that followed their victim to a guest house whereafter they forced him to withdraw cash
Read more »
Gift of the Givers’ Imtiaz Sooliman calls on ANC to consider Palestine cause in coalition decisionsThe ongoing court case against the Israeli state cannot be stopped. The ANC needs to consider this when making coalition decisions, says Sooliman.
Read more »
Defending NHI: An 'opportunity to access quality healthcare' - outgoing chair of health committeeDefending NHI: An 'opportunity to access quality healthcare' - outgoing chair of health committee
Read more »