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Set Free by Naspers, African TV Giant MultiChoice Plots Path

  • Investors given opportunity to invest in pay-TV provider
  • Naspers seeking to spin off units to focus on internet
Using TV remote control
Photographer: bonetta/iStockphoto
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Discarded by its globe-trotting parent Naspers Ltd. after more than three decades, African pay-TV heavyweight MultiChoice Group Ltd. is facing an uncertain future.

The broadcaster of English Premier League soccer and hit dramas such as Game of Thrones will be spun off by Naspers in Johannesburg next year, creating a newly listed company. Estimated valuations by analysts and investors have ranged from $5 billion to $6.6 billion -- plus the potential for dividends -- compared with zero as part of the wider Naspers empire.