Sylvia Duruson
French pay-TV giant Canal+ has taken a significant step in its African expansion strategy by acquiring a majority stake in Mauritius-based MC Vision. The move, reported by Bloomberg, sees Canal+ increase its ownership from 37% to 75%, subject to regulatory approval.
MC Vision, co-founded by Canal+ and Currimjee Jeewanjee over two decades ago, will undergo a restructuring of its ownership. Currimjee Jeewanjee will reduce its stake from 53% to 25%, while the Mauritius Broadcasting Corporation will divest its 10% holding. The companies stated that this new structure would enhance MC Vision’s ability to meet the evolving needs of Mauritian households for audiovisual content and services.
This acquisition is part of Canal+’s broader strategy to strengthen its presence in Africa’s media landscape. The French company has been actively pursuing opportunities across the continent in recent years. In 2019, Canal+ acquired Nigeria’s ROK Studios, aiming to distribute Nollywood content more widely. The company also expanded its footprint in Rwanda by purchasing Zacu Entertainment.
Perhaps the most notable development in Canal+’s African expansion has been its ongoing efforts to acquire MultiChoice Group, a South African pay-TV and streaming company. After a series of incremental increases in ownership, Canal+ now holds a 45.2% stake in MultiChoice.
The path to this significant ownership position in MultiChoice was not without challenges. Canal+ initiated its acquisition attempts in early 2024 with an offer of R105 per ordinary share, representing a 40% premium on MultiChoice’s closing price. However, MultiChoice rejected this initial offer, deeming it an undervaluation of the company.
Undeterred, Canal+ persisted in its pursuit. In March 2024, the company made a mandatory offer to MultiChoice shareholders for all remaining shares. Through a series of transactions, Canal+ steadily increased its shareholding, first to 40.1%, then to 40.83%, before reaching its current 45.2% stake.
These strategic moves demonstrate Canal+’s commitment to establishing a strong presence in Africa’s diverse and growing media markets. By acquiring stakes in established local players like MC Vision and MultiChoice, Canal+ aims to leverage existing infrastructure and market knowledge while bringing its own expertise and resources to bear.
The African media landscape presents significant opportunities for growth, with rising disposable incomes and increasing demand for diverse content across multiple platforms. Canal+’s investments position the company to capitalize on these trends and potentially shape the future of media consumption across the continent.
As Canal+ continues to expand its African portfolio, industry observers will be watching closely to see how these acquisitions impact local media ecosystems and content production. The company’s growing influence may lead to increased investment in African-produced content and potentially open new distribution channels for local creators.
With regulatory approvals pending for some of these deals, the full impact of Canal+’s expansion remains to be seen. However, it’s clear that the French media giant is positioning itself as a major player in Africa’s evolving media landscape.
