Vivendi's Canal+ now wants Mauritius' pay-TV operator MC Vision as well, increases stake from 37% to 75%.

by Thinus Ferreira

Busy with its aggressive takeover of South Africa's MultiChoice, Vivendi's Canal+ is now looking to grab Mauritius' pay-TV operator MC Vision as well, and wants to increase its stake in MC Vision from 37% to 75%, owning three-quarters of the company.

Bloomberg reports that Canal+ is set to suddenly more than double its stake in MC Vision for an undisclosed amount pending regulatory approvals in Mauritius.

Mauritius doesn't have the same supposedly stringent regulations around ownership of local media companies by foreign companies like South Africa has.

According to a joint statement that Canal+ and the MC Vision owner Currimjee Jeewanjee & Co published in the Le Dimanche/L'Hebdo newspaper, Currimjee Jeewanjee & Co will drop its stake from 53% to just 25% in MC Vision while Mauritius Broadcasting Corporation (MBC) will sell its 10% stake in MC Vision.

Canal+ will gobble up what Currimjee Jeewanjee & Co and MBC owned in MC Vision, which launched in Mauritius as a pay-TV company in 1999.

Canal+ says owning 75% of MC Vision "will enable MC Vision to continue to meet the expectations of Mauritian households in terms of audiovisual content and services, while befitting from the support of the Canal+ group".

Vivendi plans to list Canal+ on the London Stock Exchange.

by Thinus Ferreira

The French media group Vivendi now plans to list its TV business Canal+ in London on the London Sock Exchange.

Canal+ is busy with an aggressive takeover of South Africa's MultiChoice that runs brands like DStv, SuperSport and M-Net despite strict South African regulations barring foreign ownership of media companies like the Randburg-based pay-TV company.

Vivendi in a statement today says "Canal+ would be listed on the London Stock Exchange to reflect the company's international dimension, particularly as part of the ongoing combination with MultiChoice".

In its statement, Vivendi says "With close to two-thirds of its subscribers outside of France, a film and TV series distribution network present on all continents, and growth drivers resulting from its recent developments on the African, European and Asia-Pacific markets, a London-based listing would represent an attractive solution for international investors likely to be interested in the group".

Vivendi then also wants a secondary listing of Canal+ in South Africa on the Johannesburg Stock Exchange (JSE) in order to shirt the foreign ownership regulations if it gets to buyout MultiChoice.

"Canal+ would remain a company incorporated and taxed in France and would not be subject to mandatory stock market regulations on public offers in either the United Kingdom or France," says Vivendi.

"Furthermore, Canal+, depending on the success of its public tender offer for MultiChoice, could be subject to a secondary listing on the Johannesburg stock market."

ALSO READ: How France's far-right billionaire and corporate raider Vincent Bolloré is doing his Canal+ aggresive buyout of MultiChoice and what it could mean for content.

ALSO READ: OPINION. Why Canal+'s MultiChoice takeover will be a DStv minus.

ALSO READ: Reporters Without Borders attacked by PR firm working for far-right TV channel CNews owned by MultiChoice takeover owner Vivendi.

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

How France's far-right billionaire and corporate raider Vincent Bolloré is doing his Canal+ aggresive buyout of MultiChoice and what it could mean for content.

by Thinus Ferreira

In the latest edition of Al Jazeera's The Listening Post, the weekly media review show looks at and explains how France's far-right billionaire and corporate raider Vincent Bolloré from Vivendi is moving to gobble up Africa's MultiChoice in South Africa through his aggressive Canal+ corporate takeover.

The Listening Post report how the so-called "Bolloré system works": Vincent Bolloré first acquires a small stake in an organisation - like what Canal+ started doing with MultiChoice - slowly builds up his shareholding in an organisation, stages a hostile takeover, then fires a bunch of staffers and the pivot the organisation to the right, politically.

Should Canal+ and Vincent Bolloré's aggressive buyout of MultiChoice go through, "it would grant a monopoly to one man with the power to determine what kind of content gets broadcast across an entire continent" The Listening Post reports.

The report details how Vincent Bolloré and Canal+ have censored the news and news reporting that wasn't favourable for Vivendi and Canal+.

Staffers also got fired to create the far-right editorial newsroom environment that Bolloré wants, Canal+ did marketing disguised as news reporting to curry favour with African governments, and Bolloré even removed TV channels critical of government from Canal+'s line-up to appease governments in Africa to get government contracts.

Vincent Bolloré pleaded guilty to corruption charges in France related to election interference in both Togo and Guinea. Now he's trying to buy MultiChoice in a hostile takeover.

ALSO READ: OPINION. Why Canal+'s MultiChoice takeover will be a DStv minus.

Reporters Without Borders attacked by PR firm working for far-right TV channel CNews owned by MultiChoice takeover owner Vivendi.

by AFP - Agence France Presse

Reporters Without Borders (also known in French as Reporters sans frontières or RSF) on Thursday accused a PR firm with links to French billionaire conservative Vincent Bollore of orchestrating a "vast disinformation campaign" against it.

The Paris-based non-governmental organisation (NGO), known for its work in defending press freedom around the world, said the PR firm, Progressif Media, had set up false websites made to look like that of RSF.

It also sent out messages on X, formerly known as Twitter, to discredit RSF, the NGO said.

The fake sites included content accusing RSF of trying to censor CNews, France's most popular news channel that is regularly accused of promoting far-right views. 

Progressif Media, RSF found, is part-owned by Bollore's telecoms conglomerate Vivendi, and is based on the same premises.

Vivendi also owns CNews and several other news organisations that are seen as shifting France's media landscape to the right in recent years.

Vivendi's Canal+ is busy with an aggressive takeover bid to buy MultiChoice in South Africa despite strict regulations barring foreign ownership of local media companies like MultiChoice, although it hasn't stopped Canal+ from gobbling up all available MultiChoice shares and making an official buyout bid approved by a special MultiChoice board.

Vivendi, which denies political bias in its news outlets, told AFP it had "no knowledge of possible illegal practices attributed to Progressif Media by RSF". 

However, a spokesperson confirmed Progressif Media had been deployed by a part of its media empire "to counter certain arguments about CNews". 

"We will see what happens next, what choices Vivendi will make now that the facts have been exposed publicly," said Arnaud Froger, head of RSF investigations. 

CNews launched in 2017 and is often compared to Fox News in the United States. According to RSF, the campaign came shortly after it made a formal complaint calling for stricter oversight of CNews.

Following RSF's complaint, media regulator Arcom was instructed in February to tighten control over TV and radio stations to ensure balanced political coverage. Bollore, known for having conservative views, has been gradually buying up many of the most important media companies in France, including film producers Canal+, Paris Match magazine and Europe 1 radio.

- Additional reporting by Thinus Ferreira

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.

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

by Thinus Ferreira

France's Canal+ has gobbled up further shares in MultiChoice and announced on Friday that it now owns close to a third - 30.27% of the pay-TV company that runs DStv.

Canal+ continues to constantly and aggressively buy MultiChoice shares since it started investing in the company in 2020.

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. 

Just seven months ago, Canal+ still sat at 20% of MultiChoice shares.

Now Canal+ owns close to a third of MultiChoice shares. Interestingly, South African law restricts foreign ownership to 20%.

MultiChoice tells TVwithThinus in response to a media query about Canal+'s increased shareholding that "The Group regularly engages investors with its strategic partners and maintains an open dialogue with the investment community. Our policy is not to comment on individual shareholders nor on our interactions with them".

Canal+ is owned by the French billionaire Vincent Bollore's Vivendi SE.

France's Groupe Canal+ gobbles up more than a quarter of MultiChoice as it increases its stake to 26.26%, pay-TV company notifies Takeover Regulation Panel.

by Thinus Ferreira

France's Groupe Canal+ has dramatically increased its shareholding of MultiChoice, gobbling up more than a quarter of the South African pay-TV company by increasing its stake yet again to now stand at 26.26%, and with MultiChoice notifying the Takeover Regulation Panel.

This is a further increase in shareholding from Canal+'s shareholding acquisition of MultiChoice which by July this year stood at 20.1%.

While speculation grows that Vivendi could be looking at taking over MultiChoice, MultiChoice keeps issuing the same repeat holding statement, again saying that "MultiChoice remains committed to acting in the best interests of all shareholders and to create sustainable, long-term shareholder value".

"While the group regularly engages investors and maintains an open dialogue with the investment community, its policy is not to comment on its individual shareholders nor on its interactions with them."

MultiChoice says it has "filed the required notice with the Takeover Regulation Panel".

Vivendi kicked the tyres on MultiChoice Africa in 2017 but Naspers which used to own MultiChoice turned down the deal of $1 billion at the time.

Canal+ started buying MultiChoice shares in 2020, acquiring 6.5% in October 2020, upping it to 15.4% in November 2021 and acquiring further MultiChoice shares in 2022.

France's Canal+ increases its stake from 12% to 15% in South Africa's MultiChoice.

France's Canal+ Group has increased its stake in South Africa's MultiChoice Group further, from 12% to 15%, Reuters reported on Thursday.

Vivendi's VIV.PA Canal+ raised its stake significantly last year in Africa's largest pay-TV group,, leading to speculation at the time of a possible takeover. 

MultiChoice at the time told TVwithThinus that "As a publicly held company, MultiChoice regularly engages with its strategic partners and maintains an open dialogue with the investment community. The group’s policy is not to comment on its individual shareholders nor on its interactions with them".

MultiChoice said that it "remains committed to acting in the best interests of all shareholders and to create sustainable long-term shareholder value".

On Thursday MultiChoice reiterated this pro forma holding statement and said that it remains committed to acting in the best interests of shareholders and creating long-term value, but its policy was not to comment on individual shareholders or its relationship with them.

Groupe Canal+ first acquired a 5% shareholding in MultiChoice in April 2020.

In 2018 after putting its MultiChoice Africa business up for possible sale, a sale to Vivendi of MultiChoice's pay-TV business outside of South Africa was rejected.

In July 2019 Canal+ that runs its own pay-TV service across the African continent, acquired Nigeria's ROK Studios and TV channels business for an undisclosed amount.

ALSO READ: France's Canal+ increases its stake in MultiChoice to 6.5%.

France's Canal+ increases its stake in MultiChoice to 6.5%.

by Thinus Ferreira

France's Groupe Canal+ SA has now acquired a 6.5% stake in the pay-TV operator MultiChoice Group that runs the DStv service, in ordinary shares.

The MultiChoice Group that is listed on South Africa's JSE stock exchange in an investor statement announced on Monday morning that Canal+ bought 6.5% of MultiChoice's ordinary shares.

Groupe Canal+ first acquired a 5% shareholding in MultiChoice in April 2020 and has now increased it by another 1.5%.

That makes Canal+ the second biggest shareholder in MultiChoice after the Public Investment Corporation (PIC).

Canal+ is owned by Vivendi, headquartered in Issy-les-Moulineaux, outside Paris. 

In 2018 after putting its MultiChoice Africa business up for possible sale, a sale to Vivendi of MultiChoice's pay-TV business outside of South Africa was rejected.

In July 2019 Canal+ that runs its own pay-TV service across the African continent, acquired Nigeria's ROK Studios and TV channels business for an undisclosed amount.

"As a publicly held company, MultiChoice regularly engages with its strategic partners and maintains an open dialogue with the investment community. The group’s policy is not to comment on its individual shareholders nor on its interactions with them," MultiChoice says.

"The company remains committed to acting in the best interests of all shareholders and to create sustainable long-term shareholder value."

Africa's pay-TV subscribers set for continued growth, will reach 45.63 million in sub-Saharan Africa by 2024.

Africa's pay-TV subscribers in South Africa and the rest of sub-Saharan Africa will continue its strong growth despite the much-hyped threat from global video streaming services, and will reach 45.63 million pay-TV subscribers by 2024.

According to new market research from Digital TV Research, the projection is that sub-Saharan Africa will add more than 16 million additional pay-TV subscribers over the next 5 years between 2019 and 2024, for a total of 45.63 million.

According to Digital TV Research's new Sub-Saharan Africa Pay TV Forecasts 3 pay-TV providers account for 93% sub-Saharan Africa'ss pay-TV subscribers in 2018.

While all three are forecast to increase their pay-TV subscriber base over the next half a decade, their proportion is expected to fall to 89% by 2024.

Naspers' The MultiChoice Group that plans to unbundle and spin-off as its own company in the first half of this year had 14.34 million pay-TV subscribers across satellite pay-TV platform DStv and digital terrestrial television (DTT) platform GOtv at the end of 2018.

MultiChoice will grow this by 5 million to 19.37 million by 2024.

France's Vivendi had 4.01 million pay-TV subscribers for its Canal Plus satellite pay-TV platform and Easy TV DTT platform by the end of 2018. Vivendi will grow this to 6.21 million by 2024.

Meanwhile China's StarTimes (StarSat in South Africa and Southern Africa) had 7.75 million pay-TV subscribers at the end of 2018 and will grow this to 14.85 million by 2024 - roughly what MultiChoice has currently.

Simon Murray, principal analyst at Digital TV Research, says "Subscriber numbers will climb by 61% over this period, but pay-TV revenues will rise by only 42%, indicating lower average revenue per user (ARPUs)".

"Pay-TV revenues will reach $7.72 billion by 2024, up by $2.3 billion on 2018."

Africa set to add 17.4 million pay-TV subscribers in the next 5 years as pay-TV subscriptions on the continent continue to soar.

Pay-TV subscriptions in sub-Saharan Africa is set to soar and will continue its massive growth in the next 5 years, increasing by 74% between 2017 and 2025, and adding 17.4 million pay-TV subscribers to reach 40.89 million pay-TV households according to the projections in a new research report compiled by Digital TV research.

Together with pay-TV growth, will come an increase in competition, with competing pay-TV companies that are already lowering subscription fees and subsidising decoder costs.

Over the same period, according to projections, pay-TV revenue in sub-Saharan Africa will increase by 14% to $6.64 billion.

While South Africa continues to have the most pay-TV subscribers on the continent, Nigeria is set to overtake South Africa by 2021.

By 2023 South Africa, Nigeria, Kenya, Tanzania and the Democratic Republic of Congo (DRC) will be the top 5 pay-TV countries in Africa according to pay-TV subscriber numbers; followed by Uganda, the Ivory Coast and Angola.

These top 8 African countries according to pay-TV subscribers by 2023 will collectively have three-quarters of the total pay-TV subscriber market by 2023.

From the current 23.49 million pay-TV subscribers in sub-Saharan Africa at the end of 2017, 13.78 million were satellite pay-TV subscribers and 9.11 million were digital terrestrial television (DTT) pay-TV subscribers.

According to Digital TV Research, by 2023 this will have grown to 40.89 million for satellite TV and 8 million DTT pay-TV subscribers.

MultiChoice had 12.48 million subscribers across its DStv satellite pay-TV platform service and its GOtv DTT service by the end of 2017, and that is set to increase to 16.66 million by 2023 according to growth estimates.

Naspers' MultiChoice remains by far the largest pay-TV operator on the African continent.

Vivendi had 2.96 million subscribers for its Canal Plus satellite pay-TV platform and Easy TV at the end of 2017 and will likely increase this to 4.87 million by 2023.
 
StarTimes,operating as StarSat in South Africa see its subscriber base in Africa and South Africa increase from 6.23 million subscribers at the end of 2017 to 13.42 million by 2023.

“Pay-TV competition in sub-Saharan Africa is becoming more and more intense, especially given the launch of Kwesé in 14 countries during 2017," says analyst Simon Murray who compiled the research.