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In 1985, Koos Bekker led the founding committee behind M-Net, a Television platform operator in South Africa.[2]
In 1990, M-net was introduced to Johannesburg Stock market. In 1991, the company changed its name to MIH Ltd and was incorporated in the British Virgin Islands.[3]
In 1995, MIH and Richemont joined their assets to form NetHold. Koos Bekker was appointed NetHold’s first general director.[4]
By march 1996, the company amassed $950 million revenue.[5]
The company was on the verge of signing a deal with DirecTV but the partnership was dismissed.[7]
Merging with CANAL+
In 1997, NetHold merged with CANAL+ a French-based Pay TV operator. By that time, NetHold’s value reached $1.8 billion.[3]
Richemont and MIH kept NetHold’s pay-television businesses in Africa, Greece, Cyprus and the Middle east then sold them to CANAL+ in exchange for 20% shares in all of its operations.[8][9]
The union of NetHold and CANAL+ garnered 8.5 million subscribers.[10] The group is present in France, Spain, Italy and Germany with a large audience in Scandinavian countries.[11]
The Board of directors of the merging venture includes representatives of CANAL+’s major shareholder Havas, Compagnie des eaux and NetHold’s shareholders Richemont and MIH.[12]
Directors
Koos Bekker (former NetHold CEO, former General director of Naspers)[13]
Johann Rupert (Richemont chairman[14] and NetHold CEO)[15]
