On Digital Media (ODM), the company behind South African adult channel applicant TopTV, has revealed an investment deal is at an “advanced stage”.
HumanIPO reported yesterday TopTV was making its case to the Independent Communications Authority of South Africa (ICASA) to be allowed to broadcast pornography, adding three adult channels to its bouquet.
According to BusinessDay Live Eddie Mbalo, chief executive of ODM, said: “We are in serious discussions with an equity investor and an announcement would be made soon.
“I can’t reveal those details yet, but the discussions are at advanced stage.”
ODM went into business rescue last year and at yesterday’s hearing it was heard 250 jobs could be lost if TopTV did not the necessary permission to broadcast its porn channels.
