September 22, (THEWILL) — French media giant, Canal+, has officially taken control of South African pay-TV powerhouse, MultiChoice Group Limited (MCG), marking a transformative moment in African and global media.
The transaction, confirmed in a joint statement on Monday, makes Canal+ the direct owner of 46.0% of MultiChoice shares, with an additional 2.2% secured through shareholder acceptances.
This acquisition represents the largest transaction ever undertaken by Canal+, creating a global media and entertainment leader serving over 40 million subscribers across nearly 70 countries spanning Africa, Europe, and Asia.
The combined entity will employ approximately 17,000 staff and operate an expansive portfolio of platforms, including DStv, GOtv, myCANAL, and Showmax, reflecting a diverse language market with Canal+ historically strong in Francophone regions and MultiChoice dominant in Anglophone Africa.
This milestone deal was approved by key regulatory bodies, including South Africa’s Competition Tribunal, Johannesburg Stock Exchange, Takeover Regulation Panel, and communications authority ICASA.
In meeting mandatory conditions, Canal+ has committed to a robust package of public interest measures aimed at fostering inclusive growth and supporting South African content creation. These include backing businesses controlled by Historically Disadvantaged Persons (HDPs), supporting Small, Micro and Medium Enterprises (SMMEs) in the audiovisual sector, and maintaining funding for locally produced general entertainment and sports programming.
Maxime Saada, Canal+ CEO, underscored the combined company’s potential to leverage scale, reach, and talent to deliver compelling local and international content.
“This combination increases our ability to invest in creative and sporting content throughout Europe, Africa, and Asia. We are excited to unify two legendary media and entertainment entities into a genuine champion for Africa and beyond,
“Today marks an important step forward for CANAL+, as we begin to integrate MultiChoice to create a group with enhanced scale, reach and creativity”, Saada stated.
Leadership changes have followed the acquisition, with Saada appointed Chairman of the MultiChoice Board, David Mignot named CEO of the newly formed Canal+ African operations overseeing MultiChoice, and Calvo Mawela, former MultiChoice CEO, becoming Chairman of the African operations. Nicolas Dandoy, will serve as CFO overseeing financial stewardship.
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