French Media Giant Canal+ Finalizes $2B Acquisition of South African Pay TV Group, MultiChoice
Canal+ Group has finalized its $2 billion acquisition of South African pay-TV operator MultiChoice, cementing its dominance in Africa’s television market and reshaping the global pay-TV landscape.
The acquisition, the largest ever undertaken by Canal+, gives the French media giant control of MultiChoice’s operations in 50 African countries and positions the combined group as a major international player. Together, the companies will serve more than 40 million subscribers across nearly 70 countries in Africa, Europe and Asia, supported by a workforce of around 17,000.
Canal+ CEO, Maxime Saada said in a statement. “Today marks an important step forward for Canal+, as we begin to integrate MultiChoice to create a group with enhanced scale, reach and creativity. Our combined company is unique, a true global media and entertainment powerhouse, serving more than 40 million subscribers across close to 70 countries. This combination increases our ability to invest in creative and sporting content throughout Europe, Africa and Asia” where “we will be able to leverage the diverse talent which sits throughout the group.”
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The acquisition marks a pivotal step in Canal+’s strategy to expand beyond its European stronghold, with Africa’s fast-growing media market seen as a key driver of future growth. It also underscores Canal+’s ambitions to compete with global entertainment leaders by investing in both original and sports content across multiple continents.
MultiChoice’s new group board now includes four directors, with David Mignot appointed as CEO and Nicolas Dandoy as Chief Financial Officer, while Maxime Saada serves as the Chair.
Former MultiChoice Group CEO Calvo Mawela has been named chair of Canal+’s African operations, which now encompass MultiChoice. Mignot and Dandoy will also take on the roles of CEO and CFO at Canal+ Africa, respectively. Outgoing MultiChoice CFO Timothy Jacobs will remain in a senior role within the combined group’s finance department.
The statement added that a more detailed update on the combined group’s strategy will be shared in the first quarter of next year.
