A new business deal may be in the pipeline for TopTV following an announcement by the broadcaster it has entered into talks with a potential equity investor.
The new business deal has yet to be confirmed. “I think we should be able to communicate next week formally,” Eddie Mbalo, CEO of TopTV, told TheMediaOnline, adding he did not want to give any further information regarding the deal prematurely.
TopTV filed for business rescue under section 129 of the new companies act almost three years after its initial launch in 2009, with the intention of buying time to source a strategic equity partner.
HumanIPO reported last month that the Independent Communications Authority of South Africa (ICASA) was to facilitate TopTV’s hearing on its application to broadcast adult content, however, Mbalo said that ICASA has not provided any feedback as yet.
“We don’t know yet. We think the hearings went okay for us, but we have decided that we will wait for ICASA to make a call before we make any comment. We think we made a good case,” said Mbalo.
The broadcaster has reportedly received some support for the application to air adult content, including the likes of popular sexologist Dr. Eve, but it has been met with opposition.
