Investment In Brief
- Equipment rentals houses Media Film Service and MCC/Logical Designs have entered into a merger which will see the former absorb MCC’s staff, liabilities and assets. The merger will result in Media Film Service complementing its growing Johannesburg operation by building on MCC’s skills and staff resources, film equipment assets and established loyal client base.
- Post-production facilities The Refinery Johannesburg and V-Lab (Video Lab) Johannesburg are being amalgamated into a single business For the time being the new entity will continue to be called The Refinery. As from 1 February, The Refinery’s operational hub will be in Bryanston. MFP Holdings acquired the Refinery Group in 2007.
- South African telco Telkom is planning to deliver an update by the end of this month on its plans to sell a portion of its stake in pay-TV division Telkom Media, the company has revealed. Telkom currently holds a 66% stake in Telkom Media, which it set up last year to operate satellite television and IPTV services in the country, as one of four operators issued with a pay-TV licence by local communications regulator ICASA. The company is thought to be selling its stake in Telkom Media as it is dissatisfied with decisions subsequently made by the regulator, although reports indicate that despite setting up the business to offset falling revenue from its core fixed-line business, its pay-TV operations have never really taken off. A South African newspaper said last August that the state pension administrator, PIC, has emerged as the frontrunner to acquire a stake in Telkom Media.