Canal+ already owns about 31.7% of shares in Multichoice. Picture: Facebook/MultiChoice Group
Canal+ has offered to buy out MultiChoice. The French company is already the biggest shareholder of the entity – owning about 31.7% of its shares.
It confirmed to the media that it sent a letter to MultiChoice asking to acquire the remaining issued ordinary shares of Africa’s leading entertainment company.
Canal+ said it aims to create an African media enterprise in MultiChoice that will do well in a competitive global market.
ALSO READ: ‘It spoke to me as a mother’: Mom of 8, Nozipho Ntshangase on joining ‘The Mommy Club’ cast
It said that the goal is to provide consumers with a premier selection of sports, local, and global content, allowing Africa to narrate its story to a worldwide audience on its own terms.
The offer comes as MultiChoice is strengthening its collaboration with Comcast, a prominent global broadcasting entity that holds ownership of NBCUniversal and the UK’s Sky.
The collaboration between the two Comcast companies and MultiChoice has even seen the revitalisation of Showmax.
Canal+ has not yet hinted at any planned changes to content or packages for the broadcaster’s current subscribers.
Maxime Saada, chair and CEO of Canal+, did tell the media though that for MultiChoice to succeed in Africa, it needs a plan that boosts its size and improves its knowledge both locally and globally.
The CEO believes Canal+ can help MultiChoice achieve this.
Earlier last month, Multichoice announced a whole new Showmax, featuring a refreshed brand and a massive content line-up.
ALSO READ: ‘Outlaws’ star Keketso Mpitso says he is nothing like the notorious Tladi
“At the heart of the new offering is the world’s first standalone Premier League plan for mobile, with all 380 games offered live on Showmax Premier League for R69 a month,” the company announced.
In addition, there were also two more Showmax plans introduced to customers − Showmax Entertainment on mobile for R39 a month at launch, as well as Showmax Entertainment plan, where the monthly price fell from R99 to R89.
The new Showmax app also became available in app stores from 23 January onward, as part of a staggered migration process.
Download our app and read this and other great stories on the move. Available for Android and iOS.
