French media giant Canal+ has successfully completed its $2 billion takeover of South African pay-TV operator MultiChoice Group Limited, securing a controlling 48.2% stake.
The milestone was confirmed in a joint announcement on Monday.
Canal+ first disclosed its acquisition plans in February 2024.
He describes the move as a crucial step to help MultiChoice unlock its full potential.
Despite regulatory hurdles, the deal is now unconditional, with Canal+ directly holding 46% of shares and receiving acceptances for an additional 2.2% at 125 South African Rand per share.
The acquisition, Canal+’s largest deal to date, creates a powerful global media and entertainment conglomerate serving over 40 million subscribers across nearly 70 countries in Africa, Europe, and Asia.
The group now employs approximately 17,000 staff worldwide.
Following the takeover, MultiChoice announced a board restructuring.
Canal+ CEO Maxime Saada has been appointed Chairman, while David Mignot takes over as CEO and Nicolas Dandoy as CFO of Canal+’s African operations.
Also, former MultiChoice CEO Calvo Mawela will now chair the company’s African operations under Canal+.
To secure regulatory approval, MultiChoice restructured its South African operations in line with conditions set by the Competition Tribunal in July 2025.
The changes included compliance with local broadcasting laws, the removal of voting restrictions on foreign shareholders, and commitments to support businesses owned by Historically Disadvantaged Persons.
Canal+ has also pledged to continue funding local sports and entertainment content.
Additionally, MultiChoice will now align its financial calendar with Canal+ by shifting its year-end from March 31 to December 31.
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This acquisition marks a turning point in Africa’s broadcasting landscape, with Canal+ strengthening its influence in the region while promising to protect and grow local creative industries.
