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…
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…
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…
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 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 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 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…
The Competition Tribunal has agreed to support the acquisition of MultiChoice Group by London-listed Groupe Canal+, removing a major hurdle to their deal being consummated. The tribunal approved the proposed transaction, subject to conditions agreed earlier this year by the merging parties. “As was previously disclosed, the agreed conditions include a robust package of guaranteed…
MultiChoice headquarters in Randburg, Johannesburg. Canal+ and MultiChoice have committed an additional R2 billion to public interest initiatives in South Africa, as part of a growing list of undertakings tied to their proposed R30 billion deal. The funds cater for commitments that include increased support for local content production, supplier development, and the establishment of…
MultiChoice Group has told the Competition Tribunal that its takeover by French broadcasting giant Groupe Canal+ would give it the scale it needs to compete effectively against Netflix and other international streamers. The proposed multibillion-rand deal, which is inching closer to a conclusion, overcame a big hurdle in May when the Competition Commission recommended it…
