Canal+ Completes Historic Takeover of MultiChoice, Ushers in New Leadership and Global Ambitions
In a landmark move reshaping Africa’s media landscape, French media giant Canal+ has finalized its $2.9 billion takeover of MultiChoice Group Limited, South Africa’s leading pay-TV provider, as of 19 September 2025. The acquisition, the largest in Canal+’s history, creates a global media powerhouse serving over 40 million subscribers across nearly 70 countries in Africa, Europe, and Asia. Announced on 22 September 2025, the deal brings sweeping leadership changes, a restructured board, and a strategic vision to bolster local and international content. This article explores the details of the takeover, its implications for the media industry, and the new leadership steering this transformative journey, ensuring a comprehensive and SEO-optimized overview for South African and global audiences.
A Transformative Acquisition for African Media
Canal+, a subsidiary of Vivendi until its London Stock Exchange listing in December 2024, has long been a dominant player in French-speaking Africa, operating in over 25 countries with a focus on pay-TV and streaming. MultiChoice, the parent company of DStv, GOtv, and Showmax, leads the English- and Portuguese-speaking markets, with a strong presence in South Africa and 15 other African nations. The merger unites these complementary strengths, creating a media giant with a workforce of approximately 17,000 and a subscriber base spanning three continents.
The takeover, valued at R35 billion ($2.02 billion), became unconditional after fulfilling all regulatory requirements, including approvals from the South African Competition Tribunal and compliance with the Electronic Communications Act. As of 19 September 2025, Canal+ owns 46% of MultiChoice’s shares, with an additional 2.2% secured through shareholder acceptances, giving it effective control. The deal is expected to fully close on 7 October 2025, pending further share tenders.
Maxime Saada, Canal+ CEO and newly appointed MultiChoice Executive Chairman, hailed the acquisition as a “transformative milestone.” He stated, “Today marks an important step forward for Canal+, as we begin to integrate MultiChoice to create a group with enhanced scale, reach and creativity. Our combined company is unique, a true global media and entertainment powerhouse, serving more than 40 million subscribers across close to 70 countries.” The merger positions Canal+ to compete with global streaming giants like Netflix, Amazon Prime Video, and Disney+, while strengthening its foothold in sports and local content production.
Leadership Overhaul and Governance Changes
The acquisition has ushered in significant leadership and board restructuring at MultiChoice to align with Canal+’s vision while maintaining governance independence. David Mignot, a seasoned executive with three decades of experience in Africa and CEO of Canal+ Africa since 2013, has been appointed CEO of both MultiChoice and Canal+’s African operations. Based in Johannesburg, Mignot will oversee the integration of MultiChoice’s operations, including DStv, GOtv, and the streaming platform Showmax.
Nicolas Dandoy, previously CFO of Canal+ International, takes on the role of CFO for MultiChoice and Canal+ Africa, bringing financial expertise to steer the combined group’s fiscal strategy. Maxime Saada will serve as Executive Chairman of MultiChoice’s board, ensuring strategic alignment with Canal+’s global objectives. Jacques du Puy, Canal+’s global head of pay-TV, joins as an executive director, further strengthening the board’s international expertise.
Outgoing MultiChoice CEO Calvo Mawela, who led the company through significant growth since 2018, will transition to Chairman of Canal+’s African operations, overseeing the group’s continental strategy. Outgoing CFO Timothy Jacobs will remain in a senior finance role within the combined group. The previous MultiChoice board, including members Christine Sabwa, Dr. Fatai Sanusi, and Andrea Zappia (former Showmax chair), resigned effective 22 September 2025, with the company expressing “deep appreciation for the vital role they played in building the company and securing this transformative transaction.”
The new MultiChoice board retains a majority of independent non-executive directors to ensure governance integrity, including Elias Masilela (lead independent director), Adv Kgomotso Moroka, Louisa Stephens, Deborah Klein, and James du Preez. A shareholder meeting, scheduled for October 2025, will vote on appointing Anant Singh, Amandine Ferre, and Mireille Kabamba as additional directors, further diversifying the board’s expertise.
Strategic Alignment and Operational Changes
As part of the integration, MultiChoice will align its financial year-end with Canal+’s, shifting from 31 March to 31 December starting in 2026. This change streamlines reporting and facilitates synergies across the group’s global operations. To comply with South Africa’s Electronic Communications Act, MultiChoice has established MultiChoice Proprietary Limited as a separate subsidiary to hold its broadcasting licence, ensuring adherence to foreign ownership limits while allowing Canal+ full voting rights.
The combined group aims to leverage its scale to invest in creative and sporting content across Africa, Europe, and Asia. Saada emphasized, “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.” This includes boosting productions like Shaka iLembe, a hit South African series co-produced by MultiChoice and Canal+, with Season 3 already in development.
For MultiChoice subscribers, the companies assured continuity, stating, “For MultiChoice customers, all subscription and billing arrangements will remain the same.” This commitment aims to maintain trust among DStv, GOtv, and Showmax users, who form the bulk of the group’s 20 million-plus African subscribers.
Implications for the Media Landscape
The takeover marks a pivotal realignment in Africa’s media industry, consolidating Canal+’s dominance across French-, English-, and Portuguese-speaking markets. The combined entity is uniquely positioned to challenge global streaming platforms, particularly in Africa, where Netflix and Disney+ have expanded aggressively. MultiChoice’s Showmax, a joint venture with Comcast’s NBCUniversal, remains a key asset, though Saada noted limited visibility into its financials, stating, “We do not know the details of the transaction, the economics, or the investments.” However, he emphasized that the partnership with Comcast, an “essential partner” for both companies, will continue, ensuring Showmax’s growth as a regional streaming contender.
The merger also enhances Canal+’s sports broadcasting capabilities, with MultiChoice’s SuperSport brand remaining a cornerstone for premium sports content, including the Premier League, DStv Premiership, and UEFA Champions League. Saada and Mignot declined to comment on potential plans to spin off SuperSport, with a strategic review set to conclude in Q1 2026. This review will outline detailed plans for synergies, cost efficiencies, and content investments, potentially reshaping brands like DStv and Showmax.
In South Africa, the companies have committed to public interest measures mandated by the Competition Tribunal, including support for historically disadvantaged businesses and small enterprises in the audio-visual sector. This includes maintaining funding for local entertainment and sports content, reinforcing MultiChoice’s role in nurturing South African creatives.
Addressing Concerns and Future Outlook
The takeover has not been without scrutiny. In August 2025, the International Press Institute raised concerns about potential “editorial interference” and the risk of a “de facto monopoly” under Canal+’s controlling shareholder, the Bolloré Group, which could influence content reaching millions of African households. Saada addressed these concerns, stating, “We have never done any news in Africa, and we intend to continue focusing on entertainment and sports.” He emphasized that Canal+ will not interfere with news channels carried on its platforms, maintaining a focus on apolitical content.
The acquisition also responds to competitive pressures in Africa’s pay-TV market, where MultiChoice has faced challenges from streaming rivals and economic headwinds. By combining Canal+’s technological expertise with MultiChoice’s local market dominance, the group aims to enhance digital platforms, streamline distribution, and expand access to compelling programming. Mignot highlighted this vision, stating, “Together, we will harness digital innovation, from streaming and mobile platforms to advanced distributions, to expand access, enhance experiences, and bring compelling programming to more homes, while giving Africa a stronger voice on the world stage.”
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