At Cannes Maxime Saada slams 600 film professionals against Vincent Bolloré’s takeover creep, threatens Canal+ 'will no longer work with the people who signed this petition'

by Thinus Ferreira

Canal+ CEO Maxime Saada has slammed the over 600 film professionals who signed a petition voicing their concern against French media tycoon Vincent Bolloré’s growing takeover creep, threatening that Canal+ will ban them and he will make sure Canal+ "will no longer work with the people who signed this petition".

The "Time To Switch-Off Bolloré" petition was signed last week by 600 film professionals, including prominent actors and directors.

The film professionals are concerned about Canal+ that recently acquired a 34% stake in the French production, distribution and exhibition company UGC and that could swallow it up by 2028.  

Canal+ completed its corporate grab of Africa's MultiChoice in September 2025.

The public petition warns against Vincent Bolloré’s "expansion strategy" which signatories deem to "push a right-wing, reactionary agenda" in France.

According to the petition, Vincent Bolloré’s "plans go beyond mere business deals: the billionaire makes no secret of his 'civilisation project'. He is using his television channels, such as CNews and his publishing houses to push his far-right, reactionary agenda".

"So far, his ideological offensive on film content has been discreet. However, we hold no illusions: this will not last. By controlling the entire financial chain, Bolloré has complete freedom to act when the time comes. We won’t be able to say we didn't see it coming."

"The culture war that everyone talks about is not a mere clash of ideas. By leaving French cinema in the hands of a far-right billionaire, we risk not only a homogenisation of films, but a fascist takeover of our collective imagination.

"We, producers, distributors, exhibitors, filmmakers, screenwriters, technicians, cinema workers, and above all, citizens, no longer wish to remain spectators."

"Today, for our projects as much as our salaries, we all depend to varying degrees on Bolloré’s money and we want to break the insidious silence imposed on our industry."

At Canal+'s producers' lunch on Sunday at the 59th Cannes Film Festival, Maxime Saada reportedly slammed the petition and suggested that Canal+ will ban them and make sure that Canal+ ice them out with no work for them.

"I experienced this petition as an injustice towards the Canal teams who are committed to defending the independence of Canal+, and in all the diversity of its choices," Maxime Saada said.

"And as a result, I will no longer work, I no longer wish Canal+ to work with the people who signed this petition."

On Monday, in response to Maxime Saada's threats, the organisers of the petition in a new statement said "These intimidation tactics are typical of his group's majority shareholder, Vincent Bolloré".

"Our open letter, responding to the UGC acquisition, only ever singled out the aforementioned without incriminating the Canal+ teams. This threat, however, confirms our fears. Can we still believe in Canal+'s independence from the far-right billionaire, against whom it is now officially impossible to speak out?"

"The Time to Switch-Off Bolloré collective offers its unwavering support to all the signatories of the open letter, calls on labour unions to defend them, and maintains its call to action more strongly than ever.”

Angry MultiChoice execs sidelined by Canal+ frustrated and fearful for the(ir) future after decision-making moved to Paris - report

by Thinus Ferreira

Frustrated MultiChoice executives, sitting in Randburg in Johannesburg and who used to have final approval on decisions, say they're fearful about the future and their futures, after new owner Canal+ swooped in and moved the final decision-making function to Canal+'s own executives in Paris.

In a new report by Africa Intelligence, MultiChoice executives are quoted as saying they're frustrated and angry about having been sidelined in the decision-making process regarding content and other decisions since Canal+ acquired MultiChoice in September 2025.

According to the report, several MultiChoice executives who used to be in the loop, explained that they were not even so much as consulted recently before the publication of Canal+'s financial results for 2025 that now includes MultiChoice.

Angry MultiChoice executives are blaming Maxime Saada, Canal+ CEO, and David Mignot, Canal+ Africa managing director, for the way that things inside MultiChoice have deteriorated and broken down.

Meanwhile discontent under MultiChoice executives are growing, as well as producers and content creators, with MultiChoice staff telling producers that projects, budgets and approvals are all delayed and stacking up at Canal+ headquarters in Paris where Canal+ either can't or won't make decisions and do final sign-offs.

According to Africa Intelligence, the new Canal+ Africa management structure includes the former MultiChoice CEO, Calvo Mawela who has been kept on as Canal+ Africa president; Hennie Visser as director of Africa operations, and Byron du Plessis who was MultiChoice SA CEO, as a regional manager.

Aziz Diallo now oversees French-speaking Africa, Kemi Omotosho is now responsible for Nigeria, Retief Tromp is looking after English-speaking countries outside of South Africa, while Glauco Ferreira is overseeing the Portuguese-speaking countries in Africa.

Fuming MultiChoice and SuperSport executives say their hands are tied and they can no longer make decisions, are isolated and have no final say with anything anymore, and have to send decisions to Paris and then wait approval from there.

 Not only are these executives frustrated, they're also wondering about their futures within what used to be MultiChoice or Canal+ Africa going forward.

Canal+ is shuttering MultiChoice's loss-making streamer Showmax by 30 April, and while neither staff involved with Showmax, or within MultiChoice can he retrenched, Canal+ is now going to offer voluntary severance packages to try and get rid of workers who might want out.

According to the agreement Canal+ signed with South Africa's Competition Commission, no MultiChoice workers can be retrenched for a period of three years. 

What is however happening, is that people who work for service providers and production companies making local content for DStv channels like M-Net, kykNET, Mzansi Magic and Africa Magic are losing jobs.

This is because the volume of content that MultiChoice used to commission for these channels are decreasing due to Canal+'s cost-cutting, and because of the end of Showmax as a separate platform.

Show ax: Canal+ shutters MultiChoice's flopped Showmax video streaming service

by Thinus Ferreira

After acquiring MultiChoice, Canal+ is shutting down MultiChoice's hugely loss-making Showmax video streaming service after 11 years.

Canal+ announced the "discontinuation" of Showmax that MultiChoice relaunched two years ago in partnership with Comcast's NBCUniversal. 

Canal+ said it had done a "comprehensive review of its streaming activities". The shuttering comes after Maxime Saada, Canal+ CEO, in January said on an investors' call that Showmax was a flop.

According to Canal+, the decision to axe Showmax "was made by the Showmax board of directors and reflects the continued focus of MultiChoice, a Canal+ company, on financial discipline and investment optimisation, in an increasingly competitive and capital-intensive global streaming environment".

"The substantial annual losses experienced by the Showmax business have proved unsustainable. The decision to phase out Showmax reflects our focus on building a sustainable, competitive business for the long term in an increasingly demanding global streaming environment."

Canal+ is unable to let go of any staff working at MultiChoice for Showmax, since one of the agreements with the Competition Competition of South Africa for the takeover of MultiChoice was that there won't be any retrenchments for three years.

"The decision to discontinue Showmax services will not involve any retrenchments," Canal+ says in its statement. "The group will be engaging and supporting employees through various transition options."

Ending Showmax is, according to Canal+, "also consistent with the ambition of MultiChoice to deploy its in-house large-scale streaming platform capable of meeting the expectations of African and international consumers".

"Canal+ will continue to invest in premium content for MultiChoice subscribers, technological innovation and strategic partnerships to consolidate its leadership in the African entertainment market."

"Further details regarding our expanded content offering and platform upgrades will be shared in due course. We want to reassure our Showmax subscribers that they are our priority as we evolve our services to deliver a superior streaming experience."

Showmax was launched in August 2015 and relaunched in February 2024 in partnership with NBCUnviversal holding a 30% interest in the venture. 

Since then MultiChoice and NBCUniversal have collectively poured billions of rand in the loss-making streamer that failed to reach the extremely ambitious subscriber growth targets that MultiChoice promised to investors before launch.

Canal+ rips away 2026 Winter Olympic Games from DStv and SuperSport in aggressive ongoing content cutting

by Thinus Ferreira

In yet another shocking content cost-cutting move, France's Canal+ has ripped away the 2026 Winter Olympics Games from MultiChoice's SuperSport that won't have any Winter Olympic Games coverage for DStv subscribers at all from today.

Canal+ that owns MultiChoice since September 2025 has ripped away all sports content acquisition from SuperSport in South Africa, with Canal+'s group content officer division that now decides from Paris, France what sports content will be bought and given to SuperSport in South Africa and across sub-Saharan Africa.

Canal+'s MultiChoice and SuperSport didn't make any announcement out of its own, ahead of time that it no longer will have the 2026 Winter Olympic Games, and MultiChoice said absolutely nothing to DStv subscribers ahead of paying their February subscriptions, either through email or any other notifications.

In response to a media query, SuperSport confirms to TVwithThinus that MultiChoice and SuperSport won't have any 2026 Winter Olympic Games coverage at all for DStv subscribers like MultiChoice and SuperSport had for decades.

"SuperSport, a MultiChoice company, wishes to clarify to our viewers that the Milan-Cortina 2026 Winter Olympics are not included in our content offering," SuperSport admits.

"Broadcast rights for global sporting events are secured through specific tender processes and commercial agreements."

"For the 2026 Winter Games, SuperSport did not acquire the broadcast rights for the territories in which we operate. Our content strategy remains focused on delivering the most-watched sporting codes on the continent."

"Viewers wishing to watch the Milan-Cortina 2026 Winter Olympics will need to access the relevant broadcasters or platforms that have secured the rights for this specific event," says SuperSport.

What SuperSport is saying is that Canal+, MultiChoice and SuperSport no longer see the 2026 Winter Olympics Games as something that is a "most-watched sporting code" or something worth bringing to DStv subscribers, which is absolutely shocking and astounding.

The 2026 Winter Olympic Games is taking place from today, 6 February, until 22 February, with South Africa having its largest Winter Olympics sports team ever to go and compete - fully placing the global sporting event in the category of a South African sporting event of national importance.

Canal+ forcing DStv to dump the 2026 Winter Olympic Games further shows how Canal+ CEO Maxime Saada and Canal+ Africa CEO David Mignot lied to investors and the media when they made hollow promises that MultiChoice and DStv would not lose content and would bring DStv subscribers more content than before in 2026.

Canal+'s MultiChoice and SuperSport already started to remove other sports content since the end of 2025 it used to have, like the Philly's Games football in Thembisa in December, as well as other sports content, with Canal+, MultiChoice and SuperSport apparently thinking that Dstv subscribers and the industry won't notice the shocking content cuts.

ALSO READ: SuperSport dumps Philly's Games with DStv blackout as part of Canal+'s cost-cutting at MultiChoice

'Black Swan' moment for Canal+'s MultiChoice facing a Y2K crisis at midnight as Warner Bros. Discovery prepares to pull 12 TV channels from DStv on 31 December 2025

by Thinus Ferreira

Canal+'s MultiChoice is ensnared in a "Black Swan" moment and is staring a TV-type of Y2K destruction in the face due to the threatening, massive loss of pay-TV content at midnight tonight when Warner Bros. Discovery (WBD) will pull its 12 TV channels from DStv when its channel carriage contract runs out.

Canal+ and MultiChoice will not only lose these 12 TV channels without a new deal, but also all of WBD's content like HBO from M-Net (DStv 101) and the M-Net Movies channels on DStv, as well as everything supplied by all of Warner's TV studios and film studios to M-Net, but also to the struggling Showmax streamer run by MultiChoice and Comcast's NBCUNiversal.

Twenty-five years after the so-called Y2K bug that threatened to shut down computers on New Year's Eve before the arrival of the year 2000, the clock is ticking down to midnight tonight for an utterly massive and unthinkable loss of content from DStv in terms of TV channels, shows and movies.

MultiChoice's new French Canal+ bosses, who have been closing the money taps for the past few months since October, have so far failed to sign a new channel carriage agreement with WBD, which expires at the end of 2025.

Without a new multi-year channels carriage agreement, TV channels from CNN International, Discovery Channel, Cartoon Network, Food Network, TLC, HGTV, TNT and several more will all vanish from DStv on 1 January 2026.

An M-Net insider told me that the threat represents a "true extinction-level event" for legacy M-Net's value proposition for DStv subscribers.

Ironically, the possible destruction of M-Net's premium content pipeline from America, through Warner, comes on the eve of M-Net's 40th anniversary year in 2026, with M-Net became synonymous with HBO as the home of premium shows that M-Net acquired exclusively for DStv subscribers in South Africa and across sub-Saharan Africa.

Negotiations between Canal+ and Warner Bros. Discovery continued this week.

According to several sources, Maxime Saada, Canal+ CEO in Paris, as well as David Mignot, the recently installed new Canal+ Africa boss in Johannesburg, are adamant that the financial exploitation by third-party content providers like WBD must end.

They apparently want to send a "strong and clear signal" that MultiChoice under Canal+ control and ownership "will no longer simply pay content providers their asking price".

One source tells me it's a "cost-cutting principle" and to "definitively indicate that MultiChoice's days as simply a price taker are over under Canal+" to all other entertainment and sports content distributors whose international contracts will also be expiring and coming up for renewal talks.

Warner Bros. Discovery on the other hand, is adamant to get paid what Warner knows its TV channels and content are worth, including its extremely desirable HBO series, as well as its studios' overall output volume.  

Insiders say the fear is that Warner Bros. Discovery's channels going dark, together with the ripping away of HBO content on M-Net, will lead to further millions of DStv subscribers cancelling their DStv subscriptions in early 2026 as they jump to streamers like Netflix and Disney+.

MultiChoice has already lost a shocking 2.8 million DStv subscribers since April 2023.

MultiChoice said that it continues to negotiate with WBD.

WBD told TVwithThinus that it "remains fully committed to finding a resolution and keeping our channels available for our audience".

"We are in regular contact with Canal+/MultiChoice and we remain hopeful that a constructive path forward can be agreed that benefits all parties, especially our viewers."

According to insiders, both sides are posturing and behaving like cowboys in a Hollywood movie.

"Canal+ and Warner are both hard-knuckled gunslingers because they can be. Neither side is blinking. They've been negotiating for months and neither one is willing to budge. Canal+ and Warner, both global players, are more than willing to pull the trigger and leave DStv subscribers with black screens where CNN, Cartoon Network, Discovery and all the rest are - even if it leads to immense reputational and financial pain for both."

The loss of WBD's TV portfolio alone will inflict immense damage on DStv.

Just Cartoon Network alone has a 49% audience share of all children's viewing. All of the other DStv channels combined represent the other half.

WBD confirmed this and said Cartoon Network has maintained its leadership position since 2006 as DStv's biggest kids TV channel.

Cartoonito, WBD's other children's channel that will also be ripped away at midnight from DStv, is, according to WB,D "the number one kids' channel on the DStv Family package".

Meanwhile, TNT holds the number one position as the most popular international movie channel on DStv, while TLC is hugely popular as a lifestyle TV channel.

MultiChoice says it's working on "alternative" channels and content plans to replace Warner's content if no deal is reached by the end of today, but sources explain that there exists no like-for-like equivalent replacement content for the Warner offering anywhere else in the world for Dstv to acquire and package.

Prof Lizette Rabe, media expert and emeritus professor at the University of Stellenbosch, told TVwithThinus that entertainment content can still be negotiated, but that the reduction of information and the news offering, especially during a time where democracies are under pressure is a serious matter.

"MultiChoice had already started scaling back channels, which represents a loss for viewers looking for a wider perspective," she said.

"BVN, the Dutch service, and Deutsche Welle, for example, simply disappeared quietly after on-screen messages of 'this service will no longer be available a month from now' - without any explanation to consumers."

"The fact that MultiChoice and Canal+ have to renegotiate for a new contract - of which the clock is ticking down to 31 December - in addition to Warner Bros. Discovery fielding buyers in the United States - has set the stage for a perfect storm for the South African company that has basically always had a monopoly over pay-TV information and entertainment."

"And as a consumer, I have to add - one apparently not concerned about its subscribers and not communicating truly and honestly. The result is that DStv is bleeding subscriptions."

"Now the company is in a position where possibly even more people are going to decide whether the R1000 plus per month for the DStv premium package are worth it, for what they're getting in return. It is indeed an unexpected 'Black Swan' moment for MultiChoice/Canal+," she explained. 

ALSO READ: Stalemate in channel carriage extension negotiations between Canal+'s MultiChoice and Warner Bros. Discovery could see 12 TV channels axed from DStv at the end of December 2025: 'You trust us with your money'

ALSO READ: SHOCKER. Canal+'s MultiChoice now says 12 TV channels from Warner Bros. Discovery will definitely be removed 31 December 2025 in channel carriage fight.

ALSO READ: Netflix to buy Warner Bros. Discovery's studios and HBO Max streamer for $72 billion: 'The Albanian army has taken over the world'

ALSO READ: Subscriber starts 'Save our DStv channels from cancellation' petition as Canal+'s MultiChoice tries to strike new deal with WBD: 'Loyal DStv subscribers are deeply frustrated over betrayed trust'

ALSO READ: M-Net and Showmax at risk of losing HBO and all other Warner Bros studios series and film output in TV channels carriage fight between Canal+'s MultiChoice and WBD

ALSO READ: Canal+'s MultiChoice and Warner Bros. Discovery unable to agree on price for 12 TV channels and HBO content, won't lower subscription fees for DStv subscribers if channels are axed

ALSO READ: Why Canal+'s DStv faces massive downfall danger after a Warner content wipeout

Ghana slams MultiChoice over price-drop refusal: Alleges pay-TV operator told its South African government to pressure Ghana's government, says incoming owner Canal+ is 'more positive' than MultiChoice

by Thinus Ferreira

It's an all out nasty war between Ghana's government and MultiChoice that has refused a price-drop demand by the government, with the country's communication minister now alleging MultiChoice asked the South African government to pressure Ghana's government to back off, and saying new owner Canal+ has a better attitude than MultiChoice executives.

MultiChoice Ghana is at risk of having its DStv broadcasting licence revoked in the political war that Ghana's communications minister has started with the pay-TV operator - demanding a massive price drop for DStv in the West African country struggling with a failing economy, rampant inflation and a very weak local currency.

Ghana's belligerent communication minister Sam George, who demanded that MultiChoice Ghana immediately drops its DStv subscription fees by 30% or face suspension of its broadcasting licence, is keeping up his nasty political attack on the pan-African pay-TV operator.

Sam George, in a radio interview with Joy FM, slammed MultiChoice for allegedly getting South Africa's government to try and put pressure on Ghana's government to back off.

"Look at the places they are walking around, getting the foreign minister of South Africa to call the Ghanaian foreign minister to call me - it's not going to work. Making it a foreign issue," Sam George said.

TVwithThinus asked MultiChoice earlier this week for comment and if it asked the South African government and minister of foreign affairs to intervene and contact Ghana's government. MultiChoice didn't respond to the media query.

Sam George also claims that France's Canal+ that is in the end-phase of its buyout and takeover of MultiChoice, is much better to deal with than MultiChoice and allegedly has a better attitude.

"Canal+ has reached out and I've made it clear to them that if they want to come into Ghana and operate, that is our request. Canal+'s attitude is light years more positive than that of MultiChoice," Sam George said.

MultiChoice was also asked for comment about Sam George alleging that Canal+ is "more positive" than MultiChoice. 

MultiChoice didn't respond to this question seeking comment either.

In a statement, Maxime Saada, Canal+ CEO, said "We are closely monitoring the situation in Ghana. Canal+ has a long Canal+ has a long and successful history of working collaboratively with regulatory bodies across Africa",

"Upon the successful completion of our acquisition of MultiChoice, we look forward to engaging directly with the ministry and all stakeholders to build a future that serves the interests of Ghanaian audiences and the creative industry."

MultiChoice Ghana has until 6 September to respond to the ultimatum of the Ghanaian government, after its Ghana's National Communications Authority (NCA) gave MultiChoice Ghana a 30-day notice that its broadcasting licence is going to be revoked.

ALSO READ: Ghana communication regulator gives MultiChoice Ghana 30 day-notice of revoking licence after it fails to give in to government demand to drop DStv prices by 30%, warns of 'dire implcations' to business

BREAKING. In its aggressive takeover bid Canal+ will carve and spin out MultiChoice's broadcast licence in South Africa and DStv subscibers as 'Licence Co' as MultiChoice Group keeps video assets

by Thinus Ferreira

To push its aggressive takeover of South Africa's MultiChoice Group through successfully and circumvent the country's regulations preventing a majority-owned share in local media, France's Canal+ will restructure MultiChoice and carve out its broadcasting licence and South African DStv subscribers into "Licence Co" as a new separate entity while the remainder contains its video assets as the MultiChoice Group.

Canal+ is progressing with its aggressive buyout of R32 billion for MultiChoice although various regulatory hurdles are supposed to prevent foreign ownership of a large South African media company like MultiChoice.

Canal+'s plan for a "post-transaction structure" for MultiChoice is to carve out MultiChoice's broadcasting licence in South Africa, overseen by the Independent Communications Authority of South Africa (Icasa) and MultiChoice South Africa's DStv subscribers in South Africa into a new company called Licence Co.

Canal+'s Licence Co will be a new entity, while the remainder of MultiChoice's video entertainment assets will then remain part of the MultiChoice Group.

The MultiChoice broadcast licence carve out is part of Canal+ plan to circumvent and get around South Africa's broadcast and ownership regulations. 

The dilemma Canal+ and MultiChoice have is that they can't legally get around a foreign entity owning a South African broadcast licence, in this case for traditional pay-TV. 

The plan is now for this "problem-part" preventing Canal+'s MultiChoice takeover from going through - MultiChoice South Africa and its South African broadcasting licence and South African set of DStv subscribers - to be siloed as Licence Co.

Licence Co. in South Africa will literally hold the pay-TV licence and manage the DStv subscribers, while MultiChoice Group will legally-technically no longer be a broadcaster but a video content supplier.

Like a family trust, Licence Co, although an "independent" company, will exist with the express aim to benefit the MultiChoice Group.

Also to note: MultiChoice Group, belonging to French owners and as the so-called "video content hub", will now mean that Canal+ and MultiChoice's French owners will now be paying to keep the South African public broadcaster's SABC News, eMedia's eNCA and Newzroom Africa's as South African TV news channels on the air on DStv.

This is, in effect, a French private company paying for and in control of South African TV news, as well as news elsewhere in sub-Saharan Africa.

Canal+ and MultiChoice has to secure approvals for the mega-takeover deal from Icasa, the Takeover Regulation Panel, South Africa's Competition Tribunal, shareholders, the Financial Surveillance Department and adhere to other requirements like black-economic empowerment (BEE) and with Canal+ not have voting rights of more than 20% as mandated by the Electronic Communications Act.

On paper Licence Co will be a new "independent company" but in real effect work in tandem with MultiChoice Group - as it exists currently containing MultiChoice's operational structure, technology, staff and content assets. 

Licence Co will become/remain the entity dealing with South African DStv subscribers.

Canal+ and MultiChoice plan to spin out Licence Co's ownership as majority-owned by the current Phuthuma Nathi scheme (27%), as well as two black-owned companies - Identity Partners Itai Consortium with Sonja de Bruyn and Afrifund Investments from the former Telkom CEO Sipho Maseko - as well as a Workers' Trust (ESOP).

With smart accounting and legal wrangling, Canal+ and MultiChoice are crafting it so that the MultiChoice's Group's shareholding in the new Licenco Co will be 49% and 20% on the dot in terms of voting rights - right what the regulators require.

"MultiChoice Group will retain its existing 75% direct interest in MultiChoice South Africa, which will exclude Licence Co. Phuthuma Nathi will similarly retain its existing 25% interest in MultiChoice South Africa," Canal+ and MultiChoice announced in a takeover update statement on Tuesday.

"The transaction will not lead to any disruption for LicenceCo’'s South African viewers, who will continue to access its services as normal. Licence Co will enter into various commercial agreements with MultiChoice Group subsidiaries in relation to the services currently provided to Licence Co by other MultiChoice Group entities," they stated.

"These relate to, among other things, the provision of content, technology, subscriber management and support and other functions."

"Canal+ and MultiChoice are confident that the envisaged structure meets the requirements of all applicable laws, including the restrictions on foreign ownership and control of broadcasting licences contained in the Electronic Communications Act."

Webber Wentzel and DLA Piper are the joint legal advisors to MultiChoice, while Herbert Smith Freehills and Werksmans are the advisors to MultiChoice on competition and broadcasting matters.

Citigroup Global Markets Limited and Morgan Stanley & Co International plc and the joint financial advisors to MultiChoice, while FTI Consulting are the so-called "strategic communications" advisors to MultiChoice.

Bowmans is the South African legal advisors to Canal+, with Bryan Cave Leighton Paisner LLP repping as the international legal advisors to Canal+, and BofA Securities and J.P. Morgan as Canal+'s joint legal advisors.

The Brunswick Group is the "strategies communications" advisors for Canal+.

In the joint statement, Maxime Saada, Canal+ CEO - and notably having his prepared quote placed first at the top - says "This transaction is an opportunity to create a unique global media company, with a strong presence across Africa, with the scale, expertise and creativity to compete and partner with the largest players within the media sector and beyond".

"I am confident that the contemplated post-transaction structure will comply with South Africa's

laws and regulations. Canal+ has placed Broad-Based Black Economic Empowerment at the heart of the transaction and is delighted to welcome in this potential structure, alongside Phuthuma Nathi, new HDP shareholders and broadened employee ownership."

"We remain committed to deliver on our ambition to bring MultiChoice and Canal+ together, with

today's announcement representing another step forward."

The prepared quote from Calvo Mawela, MultiChoice Group CEO, states "We are very pleased about the progress that has been made in relation to this transaction".

"In a fast-evolving industry that is becoming increasingly competitive, the opportunity to combine our efforts to increase scale and bring our subscribers an even better offering is something that

continues to excite us."

"MultiChoice has a long and proud history of creating significant value for the shareholders of

Phuthuma Nathi, one of the most successful BBBEE schemes in South Africa."

"To continue this journey with Phuthuma Nathi, while at the same time broadening the BBBEE participation in our business through new partnerships that also involves our staff, is an inspiring prospect."

MultiChoice accepts Vivendi's Canal+ takeover offer as they now look how to circumvent South Africa's foreign media ownership regulations.

by Thinus Ferreira

MultiChoice's independent board created to look into the takeover offer from Vivendi's Canal+ in France has now recommended the offer of R125 per share to the pay-TV operator's shareholders, with both companies now working to see how they can circumvent and get around South Africa's strict regulations on foreign ownership of local media. 

In a joint statement on Tuesday morning - MultiChoice sent their email blast at 7:22 and Canal+ sent theirs at 7:26 - the companies said that MultiChoice's independent board has concluded that the terms and conditions of the offer are fair and reasonable to MultiChoice shareholders.

South Africa's Electronic Communications Act (ECA) overseen by the Independent Communications Authority of South Africa (Icasa) prohibits foreign entities from holding more than 20% of the voting rights of a South African broadcaster like MultiChoice.

According to the ECA no foreign company or foreigner may have control over a commercial broadcasting licensee like MultiChoice in South Africa, and neither may a foreign company or foreigner have any financial interest, or an interest in either voting shares or capital of more than 20% in a commercial broadcasting licensee.

Canal+'s possible takeover deal of MultiChoice will be subjected to several regulations and approvals - including South Africa's Takeover Regulation Panel and the country's Competition Tribunal, the Johannesburg Stock Exchange (JSE), as well as the Financial Surveillance department.

MultiChoice sent out a "combined offer circular" today to its shareholders, in which it outlines the terms and conditions of Canal+'s offer.

MultiChoice and Canal+ are now hinting although not specifically saying how they are jointly working to circumvent South Africa's existing regulations on foreign media control.

"Canal+ and MultiChoice are in the process of assessing and finalising a suitable structure for the licensed activities of the MultiChoice Group to ensure compliance with the applicable limitations on foreign control on implementation of the mandatory offer, while also maintaining MultiChoice's BBBEE credentials," the companies say in their statement.

"Canal+ intends that, should its European listing proceed, there will be an opportunity for South African investors to become shareholders of the combined entity as part of a secondary inward listing on the JSE."

Maxime Saada, Canal+ CEO and chairman, in a new statement says "The publication of the Combined Circular is a step forward in our vision to create a global entertainment business with Africa at its heart".

"It includes a recommendation by the independent board of MultiChoice that our offer should be accepted by shareholders in the event it becomes unconditional, and an assessment that our offer is both fair and reasonable."

"By combining the scale, complementary geographies and content portfolios of our two companies we will create an entertainment group with international reach and strong local roots. Our aspiration is to provide viewers across the continent with a local champion that can both challenge and partner with the largest media companies in the world and which can serve powerful local stories and compelling sport, whilst investing in the local creative and sporting ecosystems to ensure their long-term success."

Elias Masilela, MultiChoice chairman, says "The offer from Canal+ is an endorsement of MultiChoice's 40-year track record and our compelling continental growth strategy".

"It is gratifying to note that foreign investors share our view that South Africa and Africa remain attractive growth markets. While we are currently successfully delivering on our mandate and strategy, Canal+'s offer provides the opportunity to accelerate these plans and form a global entertainment business with Africa at its heart, increasing value for shareholders in the process."

Max Gebhardt from FTI Consulting, and a former editor of the Financial Mail, now helps MultiChoice in the Canal+ buyout of MultiChoice with FTI Consulting saying it helps "companies seize opportunities and mitigate risk during both transformational and disruptive moments".

Vivendi's Canal+ ready for MultiChoice takeover, makes buyout offer for R32 billion: 'Scale is the only way to survive in this environment'.

by Thinus Ferreira

Vivendi SE's Canal+ in France that has already become the biggest shareholder in Africa's largest pay-TV operator as it steadily gobbled up a third of MultiChoice over the past 3 years, is finally ready for its MultiChoice takeover - complete with a plan for its own listing - and has made a non-binding offer of close to R32 billion (US1.7 billion) to buy MultiChoice.

Canal+ that made a since abandoned play in 2017 for MultiChoice's Africa's pay-TV operations excluding South Africa, has now made a non-binding offer to the MultiChoice board, with plans to list Canal+ as its own entity on a stock exchange.

In a statement, Canal+ confirms it has told the MultiChoice board about an offer to acquire MultiChoice at R105 per share, dependent on regulatory approval. 

Canal+ has steadily been upping its shareholding in MultiChoice over the past few years, leading to constant takeover chatter.

The R105 per share in cash buyout for its takeover plan is a 40%-premium on MultiChoice's share price of R75 on 31 January 2024 and means that the Canal+ buyout of the remainder of MultiChoice would cost it an additional  R31.75 billion (U$1.7 billion).

Canal+ which has a footprint in Africa although limited through a gentleman's agreement with MultiChoice to mostly Francophone Africa, has steadily grown its co-production partnership with MultiChoice over the past few years.

It now wants to band together its legacy operations with that of MultiChoice to collectively battle the onslaught of global streamers like Netflix, Amazon Prime Video, Disney+ and Apple TV+ gobbling up subscribers across the continent who are abandoning traditional pay-TV options in favour of digital streaming options.

MultiChoice just rolled out its relaunched Showmax streamer done in partnership with Comcast's NBCUniversal and the United Kingdom's Sky to more effectively battle global streamers and their aggressive foray into Africa.

Canal+ says if it takes over MultiChoice it will "commission ambitious and authentic African content, support more local production companies and deepen access to international sport while investing in and promoting local sport".

This is a very clear, and very intentional dig and carefully constructed statement by Canal+, to signal that it would be different if it were to run MultiChoice, that global streaming players like Amazon Prime Video that has disappointed and shocked the African community with false promises, and streamers like Netflix in Africa that doesn't offer and can't replicate the broad pay-TV broadcasting and commissioning spectrum that MultiChoice does.

"It is the ambition of Canal+ to create an African media business with enhanced scale, which can thrive in a competitive international market, better serve its consumers with a world-leading offering of sports, local and global content, and ensure that Africa can tell her story to a global audience on her own terms," Canal+ says in a press statement it issued on Thursday morning.

"However, the media industry in which MultiChoice is operating is becoming increasingly globalised and competitive, with regional media companies having to compete with the firepower of global media titans, with enormous resources to invest in content, marketing and technology. Scale is the only way to survive and thrive in this environment."

Canal+ CEO and chairperson Maxime Saada says Canal+ is proud to have been involved in Africa's media sector for the past three decades.

"As a committed investor and an experienced global media company, we want to ensure that MultiChoice and the broader South African creative ecosystem are able to succeed in the long-term."

"We hope to build on our strong track record of cooperating with MultiChoice to commission ambitious and authentic African content, support more local production companies and deepen access to international sport while investing in and promoting local sport and their local stars and ambassadors."

"We believe that with greater scale, as part of a combined group with Canal+, MultiChoice would enhance its ability to navigate the structural challenges facing the media sector, creating and securing jobs, and providing a platform for the continued success of MultiChoice as Africa's leading media company."

According to Canal+ "Upon the satisfactory completion of a confirmatory due diligence, Canal+ intends to deliver a firm intention letter to the Independent Board".

"At this stage, there can be no certainty about the progression of the Potential Offer, nor the terms of any transaction that may occur."

Canal+ says it is respectful and observant of all laws and regulations relating to the South African media sector and companies listed on the Johannesburg Stock Exchange (JSE).

"Any firm intention letter submitted would be mindful of the obligations that Canal+ would have in this regard."

Canal+ which is actively preparing its listing following the unbundling announcement of its parent company Vivendi, says "This will allow investors to benefit from the combination of Canal+ and MultiChoice, our ultimate goal being to also obtain a listing in South Africa".

MultiChoice on Thursday told TVwithThinus it 'has received a letter from Canal+" and that "this high-level letter expresses a non-binding intention to make an offer to acquire the remaining ordinary shares in MultiChoice".

"MultiChoice is reviewing the letter and will at all times act in the best interests of shareholders. We will provide an update should there be any further developments. Any speculation on these matters would be inappropriate".

Groupe Canal+ first acquired a 5% shareholding in MultiChoice in April 2020. Canal+ then increased it to 12%, then increasing it to 15%, upping it to 20.12%, then 18.44%, and then 26.6% by September 2022.  By February 2023 Canal+ owned 30.2% of MultiChoice and upped it again to 31.67% later in 2023 according to LSEG data.

At 35%-ownership, Canal+ would trigger a mandatory offer to remaining shareholders under South Africa's takeover regulations.

ALSO READ: Canal+ continues to gobble up more MultiChoice shares and with a 30.2% stake now owns almost a third of the DStv company.