After Canal+’s $3 billion acquisition of MultiChoice Group (MCG) was finalised, the French media behemoth announced a change in its financial year-end and extensive leadership changes.
The restructuring follows Canal+’s successful acquisition of the African pay-TV operator, which was the biggest deal in the company’s history and resulted in the creation of one of the biggest media and entertainment corporations globally.
As of the close of business on September 19, 2025, Canal+ directly owned 200,030,591 shares of MultiChoice, which accounted for 46 per cent of the group’s shares (excluding treasury shares), MultiChoice revealed in a notice sent to shareholders on Monday.
The acquisition solidifies the combined group’s standing as a significant global media force, catering to more than 40 million subscribers in almost 70 countries in Asia, Europe, and Africa.
When combined, the businesses will have roughly 17,000 employees. Canal+ stated that in the first quarter of 2026, it would offer a comprehensive strategic update that would include synergies from the integration.
For now, there won’t be any changes to MultiChoice subscribers’ subscription plans or billing.
Leadership changes
Multichoice has reorganised the Board to reflect the new ownership structure. Elias Masilela has been named the lead independent director, and Maxime Saada, the CEO of Canal+, is now the Board’s chair.
Nicolas Dandoy is now Chief Financial Officer, and David Mignot has assumed the role of Chief Executive Officer. In addition, Jacques du Puy has become an Executive Director on the Board.
Former Non-executive Directors Masilela, Kgomotso Moroka, Louisa Stephens, Deborah Klein, and James du Preez.
Former CFO Timothy Jacobs, former CEO Calvo Mawela, Dr Fatai Sanusi, Christine Sabwa, and Andrea Zappia have all resigned due to the reorganisation.
Moving forward, Canal+’s African operations, including MultiChoice, will be managed by Mignot and Dandoy. While Jacobs will remain in a senior finance position within the merged company, Mawela will chair these African operations despite resigning as CEO of MultiChoice.
Changes in financial year-end
MultiChoice has announced that, in addition to governance changes, it will switch from its previous March 31 year-end to align its financial year-end with Canal+’s December 31 cycle.
Due to this modification, MultiChoice will: within three months, publish the audited results for the nine months that ended on December 31, 2025; within four months, publish an integrated annual report that includes audited financial statements for the nine months ending December 31, 2025, along with a notice of the annual general meeting; and three months after that, interim results for the six months ending September 30, 2025, would be published.
Goals of the changes
This modification aims to ensure increased operational efficiency and standardise financial reporting throughout the merged group.
Canal+ CEO Maxime Saada commented on the integration, calling the purchase a significant step toward creating a “real global media and entertainment powerhouse.”
He emphasised that the merger would solidify the company’s position as the market leader in Europe and expand its reach into Africa, one of the pay-TV regions with the fastest growth rate.
“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.
Significant shift in Africa’s media landscape
The transaction marks a significant shift in Africa’s media landscape, positioning Canal+ as the region’s dominant pay-TV player while giving MultiChoice access to deeper resources and international reach.
Earlier in July, Techpression 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 most prominent media mergers a step closer to completion.
In a joint statement issued at the time, both businesses said they were on track to complete the deal before the long-stop date of October 8, 2025.
Canal+ initiated the deal earlier this year after surpassing the 35 per cent ownership threshold required by South African company law for a buyout.