The French media giant finalized its $2 billion takeover of South African company MultiChoice, with full completion scheduled for October 7.
Canal+ Take Over MultiChoice In New Acquisition Deal
Canal+ has successfully completed its $2 billion acquisition of MultiChoice, with CEO Maxime Saada announcing the new leadership team with the acquisition set to be completed fully on October 7, according to Deadline.
Saada described the takeover as the “largest transaction we have undertaken,” creating what he called a “global media and entertainment powerhouse” serving more than 40 million subscribers across nearly 70 countries in Africa, Europe, and Asia.
The deal establishes Canal+ as the dominant force in Africa’s rapidly expanding pay-TV market, where MultiChoice operates across 50 countries. MultiChoice’s group board has therefore undergone substantial restructuring, with four new directors appointed including David Mignot as CEO and Nicolas Dandoy as chief financial officer. Saada will serve as chairman, while outgoing MultiChoice Group CEO Calvo Mawela has been named chair of Canal+’s African operations. “Together, we will bring you more of what you love — African stories, world-class entertainment, and exciting innovations for the future,” he said.
Canal+ has signaled its commitment to investing heavily in African content production, specifically mentioning popular series like award winning Shaka iLembe and Spinners as examples of the high-quality local programming it plans to expand. The company has further promised to provide a more detailed strategic update for the combined group during the first quarter of next year, outlining its vision for the enlarged entertainment empire.
MultiChoice operates in 50 countries across sub-Saharan Africa and has 14.5 million subscribers.