French entertainment group Canal+ has completed its takeover of South African pay-TV and streaming leader MultiChoice, creating a media powerhouse with operations in nearly 70 countries across Africa, Europe, and Asia.
The combined group will employ about 17,000 people and serve more than 40 million subscribers, the companies said in a joint statement on Monday. They described the deal as the largest acquisition ever undertaken by Canal+.
With the move, Canal+ consolidates its dominance in Africa, where it already leads in French-speaking markets, while gaining a strong foothold in English- and Portuguese-speaking regions through MultiChoice.
“This acquisition allows us to strengthen our position as a leader in Africa, one of the most dynamic pay-TV markets in the world,” said Canal+ chief executive Maxime Saada.
The deal received final approval from South Africa’s competition regulator in late July, more than a year after Canal+ tabled its offer of 125 rand ($7.20) per share, valuing MultiChoice at roughly $3 billion.
Canal+ operates in 25 African countries with eight million subscribers, while MultiChoice — owner of DStv and Africa’s premier sports broadcaster SuperSport — has 14.5 million subscribers across 50 countries in sub-Saharan Africa
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Canal+ secures Multichoice in $3Billion Deal
French entertainment group Canal+ has completed its takeover of South African pay-TV and streaming leader MultiChoice, creating a media powerhouse with operations in nearly
