MultiChoice to delist from JSE
Canal+ plans to acquire all remaining MultiChoice shares after more than 90% of shareholders accepted its offer, triggering a compulsory buyout.
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MultiChoice to delist as Canal+ takes full control
Canal+ CEO Maxime Saada French media giant Groupe Canal+ has all but completed its takeover of MultiChoice, securing 94.39% of the South African pay-TV group’s issued shares following the close of its mandatory offer to shareholders. The result, announced to investors on Monday, clears the final hurdle for Canal+ to take full ownership of MultiChoice,…
MultiChoice entity LicenceCo appoints Ngwepe as CEO
Willington Ngwepe CEO of LicenceCo. Former Independent Communications Authority of South Africa (ICASA) CEO and MTN executive, Willington Ngwepe, has been appointed as CEO of the newly-created LicenceCo, the holder of South Africa’s subscription broadcasting licence for DStv. The company also announced the appointment of its board of directors today. LicenceCo was formed as part…
Board changes not enough to fix MultiChoice
David Mignot, CEO of Canal+ Africa and MultiChoice Group. Board changes at MultiChoice, as it and Canal+ start implementing a new structure, will only be a lifeline if they deliver tangible returns. So say analysts after the companies yesterday said final approvals were granted for Canal+’s takeover of MultiChoice Group (MCG), which analysts see as…
Meet the French telecoms engineer now leading MultiChoice
Newly appointed MultiChoice Group CEO David Mignot. Image: (c) Aurelien Pierron MultiChoice Group announced a raft of executive leadership changes on Monday. Following the conclusion of its acquisition by France’s Groupe Canal+, the JSE-listed pay-television group has a new CEO, David Mignot, who replaces incumbent Calvo Mawela. Many are asking who Mignot is and what…
Board shake-up as French take control of MultiChoice
Former MultiChoice Group CEO Calvo Mawela The French are moving quickly to stamp their authority on MultiChoice Group, announcing on Monday that CEO Calvo Mawela is longer CEO of the South African broadcaster. This follows news on Monday morning that Groupe Canal+’s acquisition of the South African pay-television giant has become unconditional. Mawela will be…
MultiChoice starts BEE restructuring ahead of Canal+ deal
Inside the MultiChoice City building in Randburg, Johannesburg. MultiChoice, which is being bought by Canal+ in a $3 billion deal, has received all the approvals it needs to restructure the company, ensuring the new entity has empowerment shareholders. The purchase amount currently equates to R52.2 billion, based on this morning’s exchange rate of R17.36. In…
MultiChoice refutes 4K streaming report
MultiChoice Group has clarified that it has not launched 4K-resolution content on its DStv Stream platform, despite a media report claiming otherwise. Although the company has the technical capability to offer 4K services and has tested them in the past, its streaming service currently maxes out at 1080p (full HD). Read: Bandwidth Blog & Smile…
Ghana tells MultiChoice to cut DStv prices – or else
Ghana has demanded that the local unit of MultiChoice Group to reduce subscription fees by 30% by 7 August or risk suspension of its broadcasting licence, Daily Graphic reported. The country wants the operator of DStv to reduce prices to align with what it charges in other peer markets and to reflect recent gains in…
MultiChoice carves out SA unit to pave way for Canal+ deal
MultiChoice Group has announced details for the first time about its plans to restructure the shareholding in its main South African operation to facilitate the JSE-listed broadcaster’s sale to France’s Groupe Canal+. The move comes 10 days after the two companies secured the green light from the Competition Tribunal for their transaction to proceed. The…