Canal+ Completes MultiChoice Takeover, Reshapes Board and African Media Landscape

The drawn-out $2 billion takeover of MultiChoice Group by French media giant Canal+ is finally complete, marking one of the most significant shifts in Africa’s pay-TV and streaming industry. The deal, now unconditional following months of regulatory hurdles and shareholder approvals, gives Canal+ effective control of MultiChoice, Africa’s largest pay-TV provider.

With the ink now dry, both companies are beginning the next chapter with a restructured board, new leadership, and an ambitious promise to redefine entertainment across the continent.

How the Deal Came Together

Canal+ first launched its bid for MultiChoice in early 2024, aiming to consolidate its strong presence in francophone Africa with MultiChoice’s dominance in anglophone markets through DStv, GOtv, and Showmax. By September 2025, the deal crossed its final hurdle as Canal+ confirmed it had secured more than 46% of MultiChoice shares directly, alongside additional tenders.

Regulatory approval, however, came with strings attached. South Africa restricts foreign ownership of broadcasting licenses to 20%. To comply, MultiChoice restructured its operations, spinning out its domestic broadcasting arm into a separate company, informally dubbed LicenceCo, while ensuring participation from historically disadvantaged groups and local shareholders.

The Competition Tribunal also imposed conditions around job preservation, commitments to local content production, and partnerships with smaller media firms to ensure the merger doesn’t suffocate competition.

New Leadership at the Helm

The integration brings sweeping changes to MultiChoice’s leadership.

• Maxime Saada, Canal+ CEO, now serves as Executive Chair of the new combined African entity.

• David Mignot has been named CEO of Canal+ Africa and MultiChoice.

• Nicolas Dandoy steps in as Chief Financial Officer.

• Outgoing MultiChoice CEO Calvo Mawela transitions into a senior leadership role within Canal+’s African operations, while long-serving CFO Tim Jacobs remains in a strategic finance role.

Some independent directors from MultiChoice’s previous board, including Elias Masilela and Kgomotso Moroka, retain their seats to preserve governance continuity. Others have resigned to make way for the new regime.

The Bigger Picture

The combined Canal+–MultiChoice group now commands more than 40 million subscribers in nearly 70 countries, supported by a workforce of about 17,000 employees. This is by far the largest acquisition Canal+ has ever executed, positioning the company as a global player in pay-TV and streaming.

The scale brings both opportunity and risk. On the upside, Canal+ gains the ability to integrate content pipelines across Africa, negotiate stronger licensing deals, and invest in original programming tailored to diverse African audiences. For subscribers, this could mean more localized content, stronger streaming offerings, and potentially better bundled services.

But challenges loom. Integration across languages, cultures, and regulatory frameworks is complex. Maintaining MultiChoice’s local relevance while meeting Canal+’s global ambitions will require careful balancing. Competitive pressure from Netflix, Amazon Prime Video, and Disney+ also means innovation cannot stall.

What It Means for Africa’s Media Future

This takeover cements Africa as a battleground for global media consolidation. For creators, it may open new doors to funding and distribution, but there is also the risk of reduced competition if one mega-player dominates too heavily. For governments and regulators, the deal tests how foreign ownership and local empowerment can coexist in strategic industries like broadcasting.

Canal+ and MultiChoice say they will unveil a detailed strategic roadmap in early 2026. Until then, the spotlight is on how quickly they can integrate operations, preserve customer trust, and deliver on promises of growth and inclusivity.

One thing is clear: the African pay-TV and streaming landscape will never be the same again.