MultiChoice Group has announced sweeping board changes and a shift in its financial year-end following the completion of Canal+’s $3 billion acquisition.
The deal hands the French media giant effective control of Africa’s largest pay-TV operator and marks the biggest transaction in Canal+’s history.
As of September 19, 2025, Canal+ directly owned 200,030,591 shares of MultiChoice, representing 46% of the group’s equity, excluding treasury shares.
The acquisition will see the companies’ combined position as one of the world’s largest media and entertainment players, with more than 40 million subscribers across nearly 70 countries in Africa, Europe, and Asia.
Together, Canal+ and MultiChoice will employ about 17,000 people worldwide, underscoring the scale of the integration.
A detailed strategy update, including synergy plans, is expected in the first quarter of 2026, while subscribers will not see immediate changes in billing or subscription arrangements.
Board reshuffle and leadership overhaul
To reflect the new ownership, MultiChoice has reconstituted its board, with Canal+ CEO Maxime Saada taking over as chair.
Veteran South African economist Elias Masilela has been appointed lead independent director, ensuring governance continuity under the new structure.
David Mignot now assumes the role of MultiChoice chief executive officer, while Nicolas Dandoy becomes chief financial officer. Jacques du Puy has also joined as an executive director, strengthening Canal+’s presence in African operations.
The new board includes a majority of independent directors: Masilela, Kgomotso Moroka, Louisa Stephens, Deborah Klein, and James du Preez, who all previously served as non-executive directors.
Departures include former CEO Calvo Mawela, former CFO Timothy Jacobs, Christine Sabwa, Dr. Fatai Sanusi, and Andrea Zappia.
While stepping down as MultiChoice CEO, Mawela will chair Canal+’s African operations, ensuring continuity in regional leadership. Jacobs, despite leaving his CFO role, will continue in a senior finance capacity within the combined group.
Financial year-end realignment
MultiChoice has also announced a change to its financial year-end, shifting from March 31 to December 31 to align with Canal+’s reporting cycle. The move is designed to harmonize financial reporting across the group and improve operational efficiency.
The company will publish interim results for the six months ending September 30, 2025, within three months.
Audited results for the nine months ending December 31, 2025, will follow, alongside an integrated annual report and notice of annual general meeting within four months.
Canal+’s global ambitions
Commenting on the integration, Canal+ CEO Maxime Saada described the acquisition as a landmark in global media consolidation. “This combination increases our ability to invest in creative and sporting content throughout Europe, Africa, and Asia,” Saada said.
He added: “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.”
The deal positions Canal+ as the dominant pay-TV operator in Africa while giving MultiChoice deeper access to international resources and distribution platforms.
Analysts see this as a major shift in Africa’s media landscape, consolidating Canal+’s influence in one of the fastest-growing pay-TV markets.
