The acquisition of MultiChoice by Canal+ is now unconditional, marking the largest transaction undertaken by the French media group and cementing the combined group’s position as a global media and entertainment company.
The MultiChoice board has made changes to its composition and leadership team to allow for suitable Canal+ representation, while maintaining its independence.
Among the changes, David Mignot and Nicolas Dandoy will respectively become CEO and CFO of the Canal+ African operations, which includes MultiChoice Group. These operations across the African continent will be chaired by Calvo Mawela, the outgoing CEO of MultiChoice. The outgoing MultiChoice CFO, Timothy Jacobs, will continue to hold a senior position in the finance department of the combined group.
Canal+ said on Monday that at the close of business on September 19, it directly owned 46% of the shares of MultiChoice group, excluding treasury shares.
In addition, acceptances in respect of a further 9.77-million shares, or 2.2% of MultiChoice shares, had already been tendered to Canal+ in terms of its mandatory offer prior to the publication of the finalisation announcement and its therefore in effective control of MultiChoice.
The group offered shareholders R125 apiece for their MultiChoice shares. The offer remains open until October 10.
All the shares which are still to be tendered into the Canal+ offer will further increase Canal+’s shareholding.
Canal+ said the reorganisation had now been completed to fulfil the SA Competition Tribunal’s requirements and applicable laws, including the restrictions on foreign ownership and control of SA broadcasting licensees.
In SA, Canal+ has committed to a package of public interest measures, including supporting firms controlled by historically disadvantaged persons and small, micro and medium enterprises in the local audio-visual sector, as well as maintaining funding for local general entertainment and sports content produced by SA creators.
"This underscores the company’s dedication to driving inclusive growth, supporting local industries, and delivering high-quality content to audiences," it said.
The integration of MCG and Canal+ will now start to take place. Following an in-depth review, 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.
For MultiChoice customers, all subscription and billing arrangements will remain the same, it 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,” said Canal+ CEO Maxime Saada.
“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.
“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,” Saada 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,” Canal+ Africa chair Calvo Mawela said.
“Over the past three decades we’ve built something special — grounded in innovation, resilience and a shared commitment to bring great content to our audiences. Going forward, this commitment remains unchanged to our audiences everywhere,” he said.
MultiChoice and its subsidiaries will be changing their financial year-end from end-March to end-December to align with Canal+.
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