France is not about to let Africa slip away easily. Today, representatives of media titan Canal+ announced they have secured full control over South Africa’s television and streaming company MultiChoice in a $2 billion acquisition.
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While the price tag might seem modest, the deal hands Canal+ not just MultiChoice’s infrastructure but also a subscriber base of 40 million, significantly bolstering its foothold in the African media landscape.
Promises are already flowing to revitalize African content, with Canal+ CEO Maxime Saada vowing to double investments in local film and TV production.
Notably, the company has pledged to steer clear of meddling in news, likely to avoid backlash over French influence shaping narratives in former colonies - a move met with skepticism, given historical tensions. Whether this restraint holds remains doubtful.
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The future of MultiChoice’s streaming service, Showmax, also hangs in the balance. With 30% of its shares sold to NBCUniversal last year, a straightforward shutdown is off the table - negotiations with the American partner will be necessary. Yet, leaving Showmax as is may not align with Canal+’s ambitions, as the service could compete with the company’s own push to position itself as the “European answer to Netflix.” As integration unfolds, the strategic direction of this asset will be a key point to watch.
