Canal+ has announced it has completed the $2.02 billion acquisition of South Africa’s MultiChoice after finalising control of 46 per cent of the company’s shares.
The acquisition creates a global media company with over 40 million subscribers across nearly 70 countries in Africa, Europe, and Asia, supported by a workforce of around 17,000 employees.
Canal+ first announced its intention to acquire MultiChoice in February 2024, describing the move as “an important next step for MultiChoice to realise its full potential”.
With the Canal+ offer now unconditional, the company has restructured MultiChoice’s board with what it calls “suitable Canal+ representation, while maintaining its independence”.
Canal+ CEO Maxime Saada has been appointed as chairman, with David Mignot named chief executive officer of MultiChoice and Canal+ Africa.
Speaking about the deal, “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.”
