Canal+ Completes MultiChoice Takeover

French media giant Canal+ had officially taken control of South Africa’s leading video entertainment company, Multichoice Group (MCG) following the conclusion of its mandatory takeover offer. 

In statements released by both companies, the long-awaited merger has been finalised, with Canal+ confirming that all regulatory and legal hurdles - most notably those set by the South African Competition Tribunal - have been cleared. These included conditions related to foreign ownership and control under the Electronic Communications Act (ECA), particularly concerning broadcasting licensees..

According to the firms, Canal+ now directly owns 46% of MCG’s shares (excluding treasury shares). Additionally, a further 9.76 million shares (equating to 2.2%) have been tendered to Canal+ in accordance with its offer, prior to the publication of the finalisation announcement.

“The acquisition of MCG by Canal+ marks the largest transaction ever undertaken by Canal+, cementing the combined Group’s position as a global media and entertainment company,” said the statement. “The combined Group will serve more than 40 million subscribers across close to 70 countries in Africa, Europe and Asia, supported by a workforce of approximately 17 000 employees.”

Public Interest Commitments to Local Industries

In securing the necessary approvals, Canal+ and MCG have agreed to a range of public interest undertakings in South Africa. These include supporting businesses owned by Historically Disadvantaged Persons (HDPs), along with Small, Medium and Micro Enterprises (SMMEs) operating within the local audio-visual sector.

The companies have also committed to maintaining and growing their investment in locally produced general entertainment and sports content, ensuring continued opportunities for South African creators.

“This underscores the company’s dedication to driving inclusive growth, supporting local industries, and delivering high-quality content to audiences,” the statement added. 

From a customer perspective, the companies confirmed that all subscription and billing arrangements will remain unchanged for the foreseeable future.

Lesaka Acquires Bank Zero in R1.1 Billion Deal

Lesaka Technologies will acquire Bank Zero in a R1.1bn fintech deal, boosting its digital banking reach and expanding services across SA.

Startup.AfricaLungile Msomi

Leadership Changes and Board Restructuring

The finalisation of the takeover has also ushered in significant leadership and board-level changes at MCG. The revised board structure is designed to provide representation for Canal+ while preserving a majority of independent directors. This, the company said, is aimed at ensuring governance stability during the integration period, while bringing in global expertise to drive commercial renewal.

With effect from 22 September 2025, the new MultiChoice Group board is as follows:

• Maxime Saada (Chair) - Executive
• Elias Masilela (Lead Independent Director) - Independent non-executive
• David Mignot (CEO) – Executive
• Nicolas Dandoy (CFO) - Executive
• Kgomotso Moroka – Independent non-executive
• Louisa Stephens – Independent non-executive
• Deborah Klein – Independent non-executive
• James du Preez – Independent non-executive
• Jacques du Puy – Executive

A majority of the new MCG Board (Mr Masilela, Adv Moroka, Ms Stephens, Ms Klein and Mr du Preez) are continuing in their roles as independent non-executive directors, ensuring continuity and institutional memory.

New CEO and CFO to Lead Canal+ Africa Operations

Under the new structure, David Mignot and Nicolas Dandoy will respectively take on the roles of CEO and CFO for the combined Canal+ Africa operations, which now include MultiChoice.

Speaking on the transition, Mignot said the merger represents a strategic step forward for both companies.

“As a combined company, we are building on strong foundations to create a media and entertainment powerhouse to serve African consumers. I am proud to lead Canal+’s operations across the continent, including our operations in South Africa.”

“Canal+ and MultiChoice have both been pioneers, and we are now uniting our cultures of excellence, creativity, technology, and storytelling to create something unique,” he added. 

He also highlighted the group's focus on innovation, particularly in digital distribution: from streaming and mobile platforms to more advanced broadcast technology.

“Together, we will harness digital innovation, from streaming and mobile platforms to advanced distribution, to expand access, enhance experiences, and bring compelling programming to more homes, while giving Africa a stronger voice on the world stage.”

Strategic Growth Update Expected in Early 2026

Canal+ stated that a full strategic roadmap for the combined group will be shared in the first quarter of 2026. This update is expected to detail operational synergies, integration strategies, and growth plans across key markets.

While the finalisation of this deal marks a major milestone for both companies, the months ahead will be pivotal in shaping the long-term success of the integration. With a stronger footprint across the African continent, and backing from a major European media house, MultiChoice now enters a new era, one that promises to reshape Africa’s media landscape at scale.