Canal+ is on an ambitious mission targeting 50 million to 100 million subscribers.
Currently, it boasts nearly 27 million subscribers in 52 countries across three continents.
Last December, the French media and telecom giant listed on the London Stock Exchange, following a spin-off from its parent company, Vivendi, ushering in an independent future to pursue its growth ambitions.
For Canal+, which generated $7.2 billion (about €6.4 billion) in revenue in 2024, Africa and Asia offer high-growth potentials. In Africa, the company is expanding its footprint by acquiring Multichoice Group, the continent’s largest pay TV enterprise.
South Africa’s Competition Commission has authorized the deal valued at $1.9 billion.
Canal+ CEO Maxime Saada called the deal “a major step forward in our ambition to create a global media and entertainment company with Africa at its heart.”
Its timing is ideal for Canal+, which controls a 45% stake in Multichoice and has become increasingly frustrated by the company’s decline.
Multichoice acknowledges facing the most challenging operating conditions in 40 years. At the top of the list is “abnormal currency weakness,” which slashed R7 billion (about $390 million) in profits from its books over the past 18 months. It has also lost close to 4 million subscribers, with the total number currently at 19.3 million in 50 markets.
Canal+ also plans to expand across Asia through its stake in Hong Kong-based Viu. Last June, it paid $300 million to increase its share to 36.8%, and is ultimately targeting 51%.
Canal+ is not the only company stirring the telecom market. In the US, cable providers Charter Communications and Cox Communications have agreed to merge in a deal valued at $34.5 billion. And AT&T has agreed to pay $5.7 billion to acquire Lumen Technologies’ mass market fiber business. In India, the impending listing of Reliance Jio, part of billionaire Mukesh Ambani Reliance Industries empire, could raise $5.3 billion.
