A French media group, Canal+, said it has completed the acquisition of MultiChoice, a South African pay-TV operator and owner of DStv and GOtv, with the transaction now unconditional. It announced this in a joint statement on Monday, September 22. The deal, valued at 125 rand per share, secured a 48.2 per cent stake in …
French Media Takes over DStv, GOtv, Restructures Board
A French media group, Canal+, said it has completed the acquisition of MultiChoice, a South African pay-TV operator and owner of DStv and GOtv, with the transaction now unconditional.
It announced this in a joint statement on Monday, September 22.
The deal, valued at 125 rand per share, secured a 48.2 per cent stake in what is described as the largest transaction ever.
As of September 2024, Canal+ owned a substantial stake in MultiChoice.
Pinnacle Daily reports that South Africa’s competition authority has approved Canal+ to buy out MultiChoice.
In an earlier statement in May this year, Canal+ affirmed its plans to expand its footprint on the African continent.
READ ALSO: All Eyes on CBN as Fed, Other Central Banks Cut Rates
The transaction, which has been in the works for nearly a year, needs the final go-ahead from the South African competition tribunal.
At the time, Canal+ held around 45 per cent of MultiChoice’s shares and offered to acquire the remainder for 125 rand per share last year.
On July 23, the French company received final approval from the South African competition tribunal to acquire MultiChoice.
With the acquisition, the companies are expected to serve over 40 million subscribers across nearly 70 countries in Africa, Europe, and Asia, supported by a combined workforce of 17,000.
Restructured board
With the takeover, Canal+ Chief Executive Officer (CEO) Maxime Saada has been appointed as chairman of the MultiChoice board.
David Mignot as CEO to head Canal+’s African operations, which now include MultiChoice, and Nicolas Dandoy as Chief Finance Officer (CFO).
READ ALSO: Balance Price Stability with Growth, Centre Tells Cardoso
Also, MultiChoice’s former CEO, Calvo Mawela, is to chair Canal+ Africa.
The organisations noted that the board restructuring follows structural changes to comply with South Africa’s foreign ownership rules.
Previous voting restrictions for non-South African shareholders have now been removed, while Canal+ pledged to maintain funding for locally produced entertainment and sports content.
“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 said.
He added that the new entity will deepen investments in “creative and sporting content across its global footprint”.
On his part, Mawela described the deal as “an exciting new journey for Africa’s media industry”.
Mignot stated that the integration is to harness digital innovation to expand access and “give Africa a stronger voice on the world stage”.
Canal+ said it will provide a strategic update on expected synergies and growth plans in the first quarter of 2026.
Alex is a business journalist cum data enthusiast with the Pinnacle Daily. He can be reached via ealex@thepinnacleng.com, @ehime_alex on X
Subscribe to Our Newsletter
Keep in touch with our news & offers
