Canal+ extends MultiChoice takeover deadline, eyes transformative expansion

Canal+ has extended the deadline for its acquisition of South Africa’s pay-TV broadcaster MultiChoice by six months, pushing the deadline to October 8, 2025, from April 8 of the same year.

This extension allows more time for regulators to approve the deal, which is seen as a critical part of Canal+’s growth strategy in Africa, particularly in English-speaking regions, following its split from Vivendi in December.

However, the deal has faced challenges, with Canal+ shares falling by 40 percent since its debut on the London stock market in mid-December.

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Despite this challenge, Canal+ remains confident that the deal will close within the extended timeframe, emphasizing that regulatory approvals in South Africa often fall within such time windows.

The company’s CEO, Maxime Saada expressed confidence in the successful completion of the deal and the company’s continued efforts to finalize it.

Canal+ anticipates revenue growth this year, though growth may be tempered by the recent shutdown of its free-to-air channel C8 in France and the termination of key third-party contracts, including one with Disney.

Over the following years, Canal+ expects moderate growth, excluding the potential impact of the MultiChoice acquisition.

For 2024, Canal+ reported a 2.3 percent increase in revenue, reaching 6.4 billion euros ($6.7 billion), and a 4.2 percent rise in adjusted earnings before interest and taxes (EBIT), totaling 503 million euros.

Founded in 1984 as a subscription TV channel in France, Canal+ is now evolving into a global content platform, with a target to increase its subscriber base to 100 million.

Currently, the company has 26.93 million total subscribers, with 17.24 million in Europe and 9.69 million in Africa and Asia. Canal+ attributes 80 percent of its revenue to subscription fees, with cinema content, through its Studiocanal unit, known for the Paddington film series—playing a key role in subscriber engagement.

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The company is also prioritizing direct-to-consumer subscribers, who now make up 19.9 million of its total subscriber base, compared to 7 million from wholesale channels.