Telkom Pulls The Plug On Netflix: Bloomberg

Telkom SA SOC Ltd TLKGY said Netflix Inc NFLX would no longer be available on the South African phone and internet company’s set-top box from October pending renewal of their deal, Bloomberg reports.
Recently Africa’s largest pay-TV provider MultiChoice Group Ltd forged deals with Netflix and Amazon.com Inc AMZN to offer streaming services through its new decoder.
Africa is a small market for paid streaming video, with just a few million subscribers out of a population of over 1 billion, and the U.S. giants have targeted it for future growth.
Netflix started producing more local content in recent years. Netflix also appointed its first African board member, Zimbabwean media tycoon Strive Masiyiwa, in a bid to grow on the continent.
Price Action: NFLX shares traded higher by 0.53% at $636.01 on the last check Monday.