MultiChoice Group (MCG), the owner of DStv and Showmax, announced on Monday that its acquisition by the French media powerhouse Canal+ is now fully effective. Alongside this announcement, the company revealed the exit of CEO Calvo Mawela and introduced a new board as it merges operations to cater to over 40 million subscribers across 70 countries.
In an update, MCG confirmed that it has completed reorganising to meet South African regulatory requirements, which included modifying its local broadcasting license to comply with foreign ownership restrictions. With the acquisition declared unconditional last week, David Mignot will assume the role of CEO, and Nicolas Dandoy will serve as CFO of the newly formed Canal+ African operations. Meanwhile, the former CFO, Timothy Jacobs, will remain in a senior finance position within the combined entity.
Mignot, who has extensive experience in Africa, has been at the helm of Canal+ Africa since 2013 and will be operating from Johannesburg. This acquisition represents Canal+’s largest transaction to date, following its separation from parent company Vivendi and subsequent listing on the London Stock Exchange last year.
With operations spanning Africa, Europe, and Asia, the group employs approximately 17,000 individuals. Canal+ CEO Maxime Saada commented in a media briefing on Monday that the group will thoroughly review its operations, including an assessment of Showmax’s performance, and aims to present a more detailed strategic plan in early 2026. The existing partnership with US company Comcast will remain in place, which Saada emphasised as a significant advantage.
“We will evaluate the strengths of our brands,” he stated, highlighting SuperSport’s exceptional reputation. “I am very optimistic about what lies ahead as we combine these two historic companies to form a truly unique global media and entertainment organisation.”
A tender process for MultiChoice shares will continue until October 7. Canal+ currently holds 46% of MultiChoice and has valid acceptances for an additional 2.2%.
The company has also committed almost US$1.7 million to local content development and promotion, focusing on supporting historically disadvantaged individuals and small, medium, and micro enterprises. Establishing a new licensing entity was necessary to comply with South African telecommunications licensing requirements, including regulations related to broad-based black economic empowerment.
