Published: September 22, 2025, 5:27 AM EST
In a major milestone for the African entertainment industry, Canal+ has officially closed its $2 billion acquisition of South African media giant MultiChoice. Announced today, the deal, finalized after regulatory approval, positions the Paris-based company as a dominant force in African media, serving over 40 million subscribers across 70 countries. The acquisition, set to complete fully by October 7, 2025, signals a bold commitment to amplifying local African content.
Canal+ Boss Unveils New MultiChoice Team As $2B Acquisition Closes; Commits To “Double Down” On African Hits Like ‘Shaka iLembe’ & ‘Spinners’ https://t.co/T7ZFHNO3AA
— Deadline (@DEADLINE) September 22, 2025
Canal+ CEO Maxime Saada unveiled the new leadership team, with David Mignot taking over as CEO of MultiChoice and Canal+ Africa, replacing outgoing CEO Calvo Mawela, who will transition to Chair of Canal+ Africa. Nicolas Dandoy steps in as CFO. Saada emphasized the merger’s goal to create a “global media powerhouse,” blending Canal+’s international expertise with MultiChoice’s 14.5 million subscribers. The board will retain over half its African members, addressing concerns about foreign influence.
A key focus is boosting local content production. Canal+ plans to “double down” on hits like Shaka iLembe, a historical drama about Zulu king Shaka that drew 3.6 million viewers in its 2023 debut, and Spinners, which made waves at Canneseries. Saada highlighted the need for more financial resources, stating, “The stories and talent are in Africa, but resources are often lacking. With world-class production, this content can shine globally.” Mignot pledged “significant” investments, though exact figures are pending.
The deal, approved by the South African Competition Tribunal, includes conditions to maintain local funding for entertainment and sports content, ensuring opportunities for South African creators. Canal+ also confirmed it will not enter the local news market, focusing instead on entertainment and sports. This addresses concerns from groups like the International Press Institute about potential editorial interference.
Canal+ previously held a 46% stake in MultiChoice, and the acquisition expands its reach across 50 countries, complementing MultiChoice’s 16 African markets without overlap. The company plans to list on the Johannesburg Stock Exchange post-acquisition, with further details expected after October 7. This move follows Canal+’s 2024 sales growth of 3.6% to $7.6 billion, driven by subscriptions and film production.
