FBN owns valuable, hard-to-get licenses - DTT (digital terrestrial television) and Radio within Nigeria, Africa’s largest market, and DBS (direct broadcast satellite) to operate in 49 SSA countries - a “moat” for new firms trying to break into these markets.
A typical TV schedule in Africa has insufficient supply and overwhelming demand for even basic content
Why now?
Note(s): (1) The World Bank; (2) International Monetary Fund; (3) PWC