Another company set to take over Multichoice as FG begins investigation of DStv, GOtv price hike

This postponement gives regulators more time to approve the purchase, which is considered a crucial component of Canal+’s growth strategy in Africa, especially in English-speaking regions, after the company’s December split from Vivendi.

However, since its launch on the London stock exchange in mid-December 2024, Canal+ shares have dropped 40%, indicating that the deal has encountered difficulties.

Despite this obstacle, Canal+ is optimistic that the purchase will conclude in the allotted time, pointing out that regulatory clearances in South Africa frequently occur during these periods.

Maxime Saada, the CEO of the company, expressed confidence in the deal’s successful conclusion and the company’s ongoing efforts to bring it to a close.

Although the recent closure of its free-to-air channel C8 in France and the termination of important third-party contracts, including one with Disney, may restrain development, Canal+ expects revenue to increase this year.

Originally established in France as a subscription TV channel in 1984, Canal+ is currently developing into a global content platform with the goal of reaching 100 million subscribers.

There are currently 26.93 million users overall, including 9.69 million in Africa and Asia and 17.24 million in Europe. Eighty percent of Canal+’s income comes from subscription fees, and the Paddington movie series and other cinematic material are a major source of subscriber engagement through the company’s Studiocanal division.

Direct-to-consumer users, who currently account for 19.9 million of the company’s overall subscriber base, are also being given priority over wholesale channels, which account for 7 million.

Meanwhile, this is coming after the House of Representatives requested that MultiChoice Nigeria halt the increase in DStv and GOtv package subscription costs.

The Cable reported that after a motion of urgent public interest, sponsored by Edo state lawmaker Esosa Lyawe, was adopted, the lower legislative house passed the resolution in a plenary session.

MultiChoice had earlier announced a pricing hike for its DStv and GOtv subscriptions on February 24.