French television company Canal+’s acquisition of Nigerian film production company, ROK is the latest acquisition, but it might not be by the time you are done reading this. These days it seems an acquisition is ongoing just at every moment. Africa is in business…so it seems.
The company has declined to disclose how much was involved in the acquisition, but it confirmed that cash was involved.
The acquisition of ROK appears harmless, but is it really? And even if it is at the point of acquisition, how long will it go on.
Since the ‘startup’ chronicles began, there have been a few we’ve been made to believe were owned by Nigerians but found out later that they were not – heartbreak, and possibly betrayal.
So why should anyone be interested in ROK at all?
- Since it was incubated 6 years ago by parent IROKOtv, it has produced 540 movies and 25 original TV series; it is by far one of Nollywood’s top film production companies.
- Canal+ has also picked interest because of ROK’s ability to produce interesting movies with a lean budget of $220,000.
How harmless will Canal+ be?
Canal+ is letting founder of ROK, Mary Njoku keep her role as Director-General, and her creative freedom as well. In addition to that, ROK also continues to provide original content for its channels and IROKOtv – pretty harmless it seems.
Canal+ might want more later on
The French company seeks to produce more original content for its French speaking Africans (FSA) audience. And to make this happen it says it’s providing Mary with administrative support, a deeper pocket to reach into, and more equipment to play with.
But it wouldn’t be unusual if Canal+ wants more later. What happens then? It’s been seen happen with many acquisitions; subtle first then disruptive later – and these days disruptive is the new normal.
And power never really tastes sweet enough until you can have the entire bottle and drink straight from it.