Joy Agwunobi

MultiChoice Group (MCG) has unveiled major boardroom changes and a shift in its financial reporting calendar following the successful completion of its $3 billion acquisition by French media giant Canal+.

The deal, finalised on September 19, 2025, gives Canal+ effective control of the African pay-TV operator, marking the largest transaction in the French company’s history and creating one of the world’s biggest media and entertainment groups.

In a notice to shareholders on Monday, MultiChoice disclosed that Canal+ now directly owns 200,030,591 shares, representing 46 percent of its issued share capital (excluding treasury shares).

The combination cements the group’s status as a global entertainment powerhouse, with a footprint spanning nearly 70 countries across Africa, Europe, and Asia, serving more than 40 million subscribers and employing about 17,000 people. Canal+ said it will present a detailed strategic update, including integration synergies, in the first quarter of 2026. For now, MultiChoice subscribers will not experience any changes to their billing or subscription arrangements.

Board restructuring

To align with the new ownership structure, MultiChoice has reconstituted its board. Canal+ CEO Maxime Saada has assumed the role of chair, while Elias Masilela has been appointed lead independent director.

David Mignot has taken over as chief executive officer, with Nicolas Dandoy named chief financial officer. Jacques du Puy also joins the board as an executive director.

Independent directors on the new board include Masilela, Kgomotso Moroka, Louisa Stephens, Deborah Klein, and James du Preez, all of whom previously served as non-executive directors.

The reshuffle means the departure of former CEO Calvo Mawela, CFO Timothy Jacobs, Christine Sabwa, Dr. Fatai Sanusi, and Andrea Zappia. However, Mawela will continue to play a key role as chair of Canal+ Africa, while Jacobs will retain a senior finance position in the combined group. Mignot and Dandoy will oversee Canal+’s African operations, including MultiChoice.

Financial year-end alignment

The coMultiChoice also announced a change to its financial year-end, moving from March 31 to December 31 in order to align with Canal+’s reporting calendar. To manage the transition, the company said it will publish interim results for the six months ending September 30, 2025, within three months thereafter. This will be followed by audited results for the nine months ending December 31, 2025, also to be released within three months. In addition, MultiChoice will issue its integrated annual report and notice of annual general meeting, together with audited financial statements for the nine-month period ending December 31, 2025, within four months.mpany said the change is intended to harmonise financial reporting across the combined group and improve operational efficiency.

A true global powerhouse

Commenting on the transaction,  Maxime Saada, CEO Canal+, described the acquisition as a landmark step in creating a “true global media and entertainment powerhouse.”

“This combination increases our ability to invest in creative and sporting content across Europe, Africa, and Asia. 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 said.

Calvo Mawela, chair of Canal+ Africa, added that the deal would unlock new growth opportunities for Africa’s media industry. According to him; “Over the past three decades we’ve built something special – grounded in innovation, resilience and a shared commitment to bring great content to our audiences. Going forward, this commitment remains unchanged to our audiences everywhere. The new combined leadership team brings a strong vision and deep expertise to the whole CANAL+ Africa business, which will take the group to greater heights. Through our combined scale, shared strengths and expanded capabilities, we are set to deliver more value to our customers, great entertainment for our audiences and ongoing support to the communities we serve.

David Mignot, CEO of Canal+ Africa, noted further that the merger would help expand access to entertainment across the continent. “Together, we will harness digital innovation, from streaming and mobile platforms to advanced distribution, to expand access, enhance experiences, and give Africa a stronger voice on the world stage,” he added.

“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,” Mignot noted.

Deal background

The acquisition follows regulatory approval granted in July by South Africa’s Competition Tribunal, which cleared the way for Canal+ to acquire MultiChoice. Both companies had said they were on track to complete the transaction before the October 8, 2025, long-stop date.

Canal+ triggered the mandatory buyout process earlier in the year after crossing the 35 percent ownership threshold under South African company law.

The transaction marks one of the biggest mergers in Africa’s media history, positioning Canal+ as the leading pay-TV operator in the region while giving MultiChoice access to deeper resources and international scale.