VEON buys 33.75% of Jungo TV in $47.3M push into digital entertainment
What's the deal? VEONDealroom has a profile for this one. Try Dealroom → has agreed to acquire a 33.75% equity stake and control rights in JungoTVDealroom has a profile for this one. Try Dealroom → Holdco, the newly formed parent of Los Angeles-based media company Jungo TV. The deal carries an indicative total consideration of $47.3 million.
The terms: VEON will pay $5 million in cash on signing, plus roughly 2.35 million existing KyivstarDealroom has a profile for this one. Try Dealroom → shares it already holds, valued at a reference price of $18.00 each — about $42.3 million. No new Kyivstar shares will be issued, and the transferred stock faces staged lock-up and sell-down restrictions.
What's the endgame? Jungo TV runs streaming and television channels across more than 60 countries via partners including Amazon Prime Video, Pluto TV, DIRECTVDealroom has a profile for this one. Try Dealroom → and Jio. Its portfolio includes the All Women's Sports Network (AWSN), a 24/7 network co-founded with Whoopi Goldberg that is dedicated to women's sports.
Why now? The purchase fits VEON's shift from telecoms to digital services. In the third quarter of 2026, digital revenue rose 45.9% year over year to $355 million, or 27.2% of group revenue.
What changes? After closing, VEON plans to distribute Jungo TV programming across its markets in Pakistan, Bangladesh, Uzbekistan, Kazakhstan and Ukraine, pursuing revenue through subscriptions, advertising, sponsorship and content licensing. Both Jungo TV and AWSN will stay in Los Angeles under their existing US management.
"Entertainment is central to our digital operator strategy: bringing customers services they value throughout the day," said Kaan Terzioglu, chief executive officer of VEON Group.
What could go wrong? The deal is expected to close in 2027, subject to regulatory approvals, and most of the consideration rides on Kyivstar's share price. That makes this a strategic bet rather than a completed acquisition.
The signal: VEON is pairing its emerging-market reach with US content, having already pursued deals including OLX Kazakhstan and Ukraine's Uklon. The women's-sports focus gives the package a distinctive niche as the company builds a broader entertainment business.
Read more: veon.com
Image credit: Generated with Gemini
