Canal+ takes effective control of MultiChoice as takeover deal becomes unconditional
Canal+’s mandatory takeover for the shares it doesn’t already own in African media giant MultiChoice Group has become unconditional.
This means France-based Canal+ is now in effective control of MultiChoice and will start the integration process, creating a global media and entertainment powerhouse serving more than 40 million subscribers across almost 70 countries in Africa, Europe and Asia. Its workforce will comprise approximately 17,000 employees.
As of September 19, Canal+ directly owns 46% of MultiChoice, while a further 2.2% of shares have been tendered. All remaining shares are due to be acquired for ZAR125 million (US$7.22m) each by October 17.
The acquisition was subject to agreed conditions, including a package of guaranteed public interest commitments. The package supports firms controlled by historically disadvantaged persons (HDPs), and small, micro and medium enterprises in the audiovisual industry in South Africa. It also maintains funding for local South African general entertainment and sports content, to help support local content creators.
As part of the new business structure following the acquisition, MultiChoice Ltd, the entity that contracts with South African subscribers, will be carved out of the MultiChoice Group and become an independent entity, majority-owned and controlled by HDPs.
The MultiChoice board has made changes to its leadership team to include a majority of independent directors, which Canal+ said “has been constituted to ensure stability through the transition while seeking to introduce fresh skills and international expertise.”
Heading up the new MultiChoice board are Canal+ CEO Maxime Saada as executive chair of Canal+’s African operations, Canal+ Africa director-general David Mignot as CEO, Canal+ International CFO Nicolas Dandoy as CFO of Canal+ Africa and Canal+ International president Jacques du Puy as an executive director of the African operations.
Existing MultiChoice independent non-executive directors Elias Masilela, Kgomotso Moroka, Louisa Stephens, Deborah Klein and James du Preez will continue to serve in the same role for Canal+ Africa.
The remaining members of the previous MultiChoice board – CEO Calvo Mawela, CFO Tim Jacobs, COO Christine Sabwa, independent non-executive director Fatai Sanusi, non-exec director and chair of streamer Showmax Andrea Zappia – have resigned.
However, Mawela will remain with the company as chair of Canal+ Africa, while Jacobs will hold a senior position in the finance department of the combined group.
Canal+ intends to inform the market of its detailed plans and envisaged synergies when it provides a strategic update for the combined group during the first quarter of 2026.
Saada said: “Today marks an important step forward for Canal+, as we begin to integrate MultiChoice to create a group with enhanced scale, reach and creativity. This combination increases our ability to invest in creative and sporting content throughout Europe, Africa and Asia.
“We will be able to leverage the diverse talent which sits throughout the group to bring to life compelling local and international stories, both from our in-house production studio Studiocanal and global platforms, and the best national and global sports, all on a world leading platform.”
Mawela said: “Today we are starting an exciting new journey, one that will bring fresh opportunities for growth and success for our company and the entire African media industry.
“The new combined leadership team brings a strong vision and deep expertise to the whole Canal+ Africa business, which will take the group to greater heights. Through our combined scale, shared strengths and expanded capabilities, we are set to deliver more value to our customers, great entertainment for our audiences and ongoing support to the communities we serve.”
Mignot added: “As a combined company, we are building on strong foundations to create a media and entertainment powerhouse to serve African consumers.
“Canal+ and MultiChoice have both been pioneers, and we are now uniting our cultures of excellence, creativity, technology and storytelling to create something unique. Together, we will harness digital innovation, from streaming and mobile platforms to advanced distribution, to expand access, enhance experiences and bring compelling programming to more homes, while giving Africa a stronger voice on the world stage.”
