Telecommunications giant, Digicel, today announced that it has acquired majority ownership and control of cable television sports providers, Sportsmax.
Sportsmax’s holding company, the St Lucia-based International Media Content Limited, IMC, was acquired in the deal for an undisclosed sum.
IMC are the owners as well of North American broadcaster CEEN-TV.
Under the terms of the deal, the founder and a number of the lead principals will continue to have a minority stake. They’ll be involved in the day-to-day running of Sportsmax and CEEN TV.
SportsMax is the Caribbean’s first and only indigenous 24-hour dedicated sports cable television channel featuring a mix of international, regional and local sports content.
Head of Group Public Relations at Digicel, Antonia Graham, says the acquisition fits in with the company’s intentions.
Antonia Graham, Head of Group Public Relations at Digicel.
The move to acquire IMC, follows Digicel’s recent acquisition of local cable company Telstar.
It also follows recent acquisitions in Anguilla, Dominica, Montserrat, Nevis and the Turks and Caicos Islands.
Managing Director at the Gleaner Company, Christopher Barnes, says Digicel’s acquisition of SportsMax is a sign of the changing media landscape in Jamaica and the rest of the region.
He says it will have major implications for smaller media companies.
Christopher Barnes, Managing Director at the Gleaner Company, speaking with Nationwide News.