JOHANNESBURG — French media giant Groupe Canal+ S.A.S. has completed its 35 billion rand ($2.02 billion) acquisition of MultiChoice Group Ltd., taking effective control of the South African broadcaster and reshaping its board.
The acquisition gives Canal+ a dominant position in Africa’s pay-TV market, where MultiChoice operates in 50 countries. The combined company will now serve more than 40 million subscribers in nearly 70 countries across Africa, Europe and Asia. According to Canal+ CEO Maxime Saada, this is a key step in the company’s strategy to become one of the top five global entertainment companies.
In line with conditions set by South Africa’s Competition Tribunal, the new MultiChoice group board includes four new directors. David Mignot was appointed as CEO and Nicolas Dandoy as chief financial officer, with Saada serving as chairman.
Outgoing MultiChoice Group CEO Calvo Mawela will now be chairman of Canal+ Africa, which includes MultiChoice. Mignot and Dandoy will also serve as CEO and CFO for Canal+ Africa, respectively.
Canal+ and MultiChoice have pledged to continue their investment in local entertainment and sports programming while supporting companies controlled by historically disadvantaged persons and small businesses in the audiovisual sector. For customers, subscription and billing arrangements will remain unchanged.
Regulatory changes and implications in Uganda
The acquisition has significant implications for Uganda, where MultiChoice and its sister company, GOtv Uganda, are in the final stages of a change in control.
The Uganda Communications Commission (UCC) is reviewing an application to transfer the licenses, a mandatory step under Ugandan law. The UCC is inviting public comments on the proposed change to ensure the public interest is considered before approval.
As of Sept. 19, Canal+ owned 46% of MultiChoice, with an additional 2.2% of shares tendered in its favor, giving the French company effective control. The offer for the remaining shares is now unconditional.
MultiChoice will align its financial year-end with Canal+, shifting from March 31 to Dec. 31. The offer, priced at 125 rand ($6.60) per share, is scheduled to close at noon Friday, Oct. 10. The final payment is set for Friday, Oct. 17.
