Canal+ Finally Completes Takeover Of MultiChoice Group And Announces New Board

French media giant Canal+ has officially completed its long-awaited takeover of South African pay-TV powerhouse MultiChoice, creating a new global media giant with a combined subscriber base of over 40 million people across nearly 70 countries. The landmark deal, which values MultiChoice at approximately USD 2 billion, culminates a process that began in early 2024 when Canal+ made a mandatory buyout offer for all shares it did not already own.

The transaction was declared unconditional on September 19 after successfully clearing all regulatory hurdles. This included a complex corporate reorganisation of MultiChoice to comply with South Africa’s Electronic Communications Act, which restricts foreign ownership of broadcasting licenses. As part of this process, MultiChoice created a new entity, ‘LicenceCo’, to hold its South African broadcasting license, paving the way for the deal to proceed.

With the acquisition complete, Canal+ has taken effective control of the group. The French broadcaster held a 46 per cent stake in MultiChoice prior to the finalisation of the deal, with an additional 2.2 per cent of shares tendered under the offer. The takeover marks the largest transaction in Canal+’s history and positions the new combined entity as a dominant force in Africa’s rapidly evolving media landscape, which is facing increasing competition from global streaming platforms like Netflix and Amazon Prime Video.

“Today marks an important step forward for Canal+, as we begin to integrate MultiChoice to create a group with enhanced scale, reach and creativity,” Canal+ CEO Maxime Saada said in a statement released on Monday, September 22, 2025.

“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,” added Mr Saada, who will additionally serve as the Chair of the Multichoice Board.

Other leadership changes include the replacement of MultiChoice’s outgoing CEO, Calvo Mawela, will now serve as Chairman of Canal+’s Africa business, while David Mignot, the former CEO of Canal+ Africa, takes over as the new CEO. While consumer services are expected to remain unchanged for now, the new leadership is set to unveil detailed plans for integration and synergies in early 2026.