MultiChoice will also pay R8 million to the Economic Development Fund over three years, to enable the development of black-owned small media.
Boniswa Khumalo
JOHANNESBURG - DSTV owner MultiChoice has seen its share price take an almost 15 percent nose dive, wiping out R8-billion in value.
This after it flagged the impact of power cuts and worsening economic conditions on its margins.
In a warning to shareholders, Multichoice said the operating environment in South Africa has deteriorated beyond expectations over the past few months.
The group says the Football World Cup delivered subscriber numbers broadly in line with expectations, but it's concerned about the second-half revenue growth in the South African business.