MultiChoice Group (MCG) has announced sweeping board changes and a shift in its financial year-end, following the finalisation of the $3 billion acquisition by French media giant Canal+.
The restructuring comes after Canal+ secured effective control of the African pay-TV operator, marking the largest transaction in its history and creating one of the world’s largest media and entertainment companies.
In a notice to shareholders issued on Monday, Multichoice disclosed that as of the close of business on September 19, 2025, Canal+ directly owned 200,030,591 shares of MultiChoice, representing 46% of the group’s shares (excluding treasury shares).
The acquisition cements the combined group’s position as a global media powerhouse serving over 40 million subscribers across nearly 70 countries in Africa, Europe, and Asia.
Together, the companies will employ about 17,000 people. Canal+ said it would provide a detailed strategic update, including synergies from the integration, in the first quarter of 2026. For now, MultiChoice subscribers will see no changes to billing or subscription arrangements.
New board and leadership structure
To reflect the new ownership structure, MultiChoice has reconstituted its board. Maxime Saada, CEO of Canal+, now chairs the board, while Elias Masilela has been appointed lead independent director.
- David Mignot has taken over as chief executive officer, with Nicolas Dandoy as chief financial officer. Jacques du Puy has also joined the board as an executive director.
- The new board includes a majority of independent directors, Masilela, Kgomotso Moroka, Louisa Stephens, Deborah Klein, and James du Preez, who previously served as non-executive directors.
- The reshuffle means that former CEO Calvo Mawela, former CFO Timothy Jacobs, Christine Sabwa, Dr Fatai Sanusi, and Andrea Zappia have stepped down.
- Going forward, Mignot and Dandoy will oversee Canal+’s African operations, including MultiChoice. Mawela, though stepping down as MultiChoice CEO, will chair these African operations, while Jacobs will continue in a senior finance role within the combined group.
Shift in financial year-end
In addition to governance changes, MultiChoice has announced that it will align its financial year-end with Canal+’s December 31 cycle, moving away from its previous March 31 year-end. This adjustment means that MultiChoice will:
- Publish interim results for the six months ending September 30, 2025, within three months thereafter.
- Release audited results for the nine months ending December 31, 2025, within three months.
- Issue an integrated annual report and notice of annual general meeting, with audited financial statements for the nine months ending December 31, 2025, within four months.
This change is aimed at harmonising financial reporting across the combined group and ensuring greater operational efficiency.
A global entertainment powerhouse
Commenting on the integration, Canal+ CEO Maxime Saada described the acquisition as a landmark step in building a “true global media and entertainment powerhouse.”
He highlighted that the combination would strengthen the company’s presence in Africa, one of the fastest-growing pay-TV markets, while reinforcing its leadership in Europe.
“This combination increases our ability to invest in creative and sporting content throughout Europe, Africa, and Asia,” Saada said.
“We will leverage the diverse talent across the group to bring compelling local and international stories to life, supported by STUDIOCANAL and our global platforms. We are now positioned to deliver greater value for all stakeholders,” he added.
The transaction marks a significant shift in Africa’s media landscape, positioning Canal+ as the dominant pay-TV player in the region while giving MultiChoice access to deeper resources and international reach.
Backstory
Earlier in July, Nairametrics reported that the French media giant Canal+ had received final approval from South Africa’s Competition Tribunal to acquire pay-TV heavyweight MultiChoice, bringing one of Africa’s biggest media mergers a step closer to completion.
In a joint statement released at the time, both companies said they were on track to conclude the transaction before the long-stop date of October 8, 2025.
Canal+ triggered the deal earlier this year after surpassing the 35% ownership threshold that mandates a buyout under South African company law.
