International digital operator VEON has agreed to acquire a 33.75% equity stake in US-based media company Jungo TV Holdco, which owns a global portfolio of television and streaming channels. Under the agreement, VEON will also obtain control rights. Jungo TV’s portfolio includes the All Women’s Sports Network (AWSN), a 24-hour television channel dedicated exclusively to women’s sports.
Jungo TV is a Los Angeles-based media company specializing in the creation, acquisition, distribution, and monetization of television content and entertainment brands. Its channels are available in more than 60 countries through platforms and broadcasters including Amazon Prime Video, Pluto TV, DIRECTV, Sling, Jio, SuperSport, and MBC. In addition to women’s sports, the company’s portfolio covers martial arts, health and wellness, Asian entertainment, and other niche content.
One of Jungo TV’s key assets is AWSN, an international sports network co-founded by actress and television personality Whoopi Goldberg. The channel broadcasts sporting events and content featuring female athletes, from emerging talent to elite professionals.
VEON plans to integrate Jungo TV’s content and international distribution capabilities with its digital platforms, customer base, and presence in local markets. Following completion of the transaction, the company intends to expand access to Jungo TV programming in Pakistan, Bangladesh, Uzbekistan, Kazakhstan, and Ukraine. This is expected to drive user engagement and digital revenue growth through subscriptions, advertising, sponsorships, and content licensing.
The transaction includes a $5 million cash payment upon signing, along with the transfer of approximately 2.35 million existing Kyivstar Group shares held by VEON. The agreed reference price is $18 per share, valuing the share consideration at approximately $42.3 million. The total indicative transaction consideration therefore amounts to approximately $47.3 million. However, the actual value of the shares will depend on their market price at the time the transaction is completed.
