VEON to Acquire Control of Jungo TV for $47.3 Million

VEON Ltd. announced an agreement Wednesday to acquire a 33.75% equity stake and control rights in JungoTV Holdco, Inc., the holding company for U.S.-based media firm Jungo TV. The transaction is valued at $47.3 million, comprising $5 million in cash and approximately 2.35 million existing shares of Kyivstar Group Ltd. held by VEON.

Jungo TV currently operates streaming and television channels in more than 60 countries, including the All Women’s Sports Network. Following the completion of the deal, VEON plans to integrate and expand Jungo TV's programming into its existing markets in Pakistan, Bangladesh, Uzbekistan, Kazakhstan, and Ukraine.

Jungo TV and the All Women’s Sports Network will keep their headquarters in Los Angeles and remain under current management. The acquisition is subject to regulatory approvals and is expected to close in 2027.