French media giant Canal+ has completed its acquisition of South African broadcaster MultiChoice, appointing a new board of directors to steer the com
French media giant Canal+ has completed its acquisition of South African broadcaster MultiChoice, appointing a new board of directors to steer the company.
The takeover, valued at 35 billion rand ($2.02 billion), gives Canal+ a dominant foothold in Africa’s fast-growing pay-TV market, where MultiChoice operates across 50 countries.
New Leadership Structure
The new board includes four new directors, with David Mignot appointed as CEO and Nicolas Dandoy as Chief Financial Officer.
Canal+ CEO Maxime Saada will become the chair, while outgoing MultiChoice Group CEO Calvo Mawela will oversee Canal+’s African operations.
Mignot and Dandoy will respectively lead Canal+ Africa as CEO and CFO. Timothy Jacobs, the outgoing MultiChoice CFO, will retain a senior position in the combined group’s finance department.
Strategic Implications
The acquisition marks a significant step in Canal+’s strategy to become a top five global entertainment player, serving over 40 million subscribers across nearly 70 countries in Africa, Europe, and Asia.
The combined group will leverage MultiChoice’s expertise in African markets, while Canal+ will bring its global reach and content offerings.
A detailed update on the combined group’s strategy is expected in the first quarter of next year.
Partnerships And Operations
MultiChoice’s partnership with U.S. media conglomerate Comcast will continue, ensuring uninterrupted service to subscribers.
The company has implemented a reorganization of its South African operations to meet conditions set by the Competition Tribunal.
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