African Media Network, Econet media, has bought all the Ghana and Nigeria assets of the Modern Times Group (MTG), a leading Swedish digital entertainment group in a deal that that will create thousands of new jobs for the countries in the region while retaining existing staff.
MTG has been a traditional broadcaster, but is expected that the deal whose value is undisclosed, will transform it from a traditional broadcaster to a digital video entertainment company, and possibly end an over a decade long monopoly of digital live sports broadcasting by MultiChoice owned DSTV .
The Econet group has committed up to $500 million in various acquisition and expansion deals in Nigeria, Tanzania, Ghana, Uganda, and South Africa, and owns the Kwese free sports channel that is currently available in 19 countries.
“We are currently testing the broadcasting equipment in Nigeria. I understand we are days away from going live in Abuja and Lagos, initially. We are starting with our premium sports channel called Kwese Free Sports.
“It is completely free like the NTA, and Channels TV. It focuses only on live sports events from across Africa, and the world. You can watch English Premier League, NBA, Cricket, boxing,” disclosed Strive Masiwiya, Executive Chairman of Econet, in a Facebook post.