Competition Commission greenlights Multichoice and Canal+ deal
Canal+ already owns 45% of Multichoice's shares, and with this deal, it intends to buy the remaining shares for R125 per share, valuing the group at R55 billion.
The Competition Commission has recommended that the Competition Tribunal approve the acquisition of Multichoice by French Media giant Canal+, subject to conditions relating to public interest considerations.
Canal+ already owns 45% of Multichoice's shares, and with this deal, it intends to buy the remaining shares for R125 per share, valuing the group at R55 billion.
ALSO READ: Canal+ takeover: MultiChoice faces uncertain future amid strategy discrepancies
Multichoice and Canal+ deal conditions
'The conditions include a package of guaranteed public interest commitments proposed by the parties,' said Multichoice.
'The package supports the participation of firms controlled by Historically Disadvantaged Persons (HDPs) and Small, Micro and Medium Enterprises (SMMEs) in the audio-visual industry in South Africa.
'This package will maintain funding for local South African general entertainment and sport content, providing local content creators with a strong foundation for future success.'
Next step for Multichoice and Canal+ deal
Now the ball is in the Tribunal's court to make a decision on the transaction. 'The approval of the Tribunal and the fulfilment of the remaining conditions are required for the Proposed Transaction to become unconditional.'
Calvo Mawela, CEO of MultiChoice Group, said: 'The recommendation from the Competition Commission is a key step forward towards the completion of the transaction and a recognition of the strong package of public interest commitments provided by the parties.'
Maxime Saada, CEO of Canal+, said: 'This represents a significant step forward in our ambition to establish a global media and entertainment company with Africa at its core. We are committed to investing in local content and supporting South Africa's creative and sports ecosystems.'
ALSO READ: MultiChoice profit nosedives with huge decline in subscribers
Commission and Tribunal
The Competition Commission is an independent adjudicative body established to regulate competition between firms in the market.
The Competition Tribunal is an independent adjudicative body that adjudicates on matters referred to it by the Competition Commission.
The Commission is the investigating and prosecuting agency in the competition regime, while the Tribunal is the court.
Weak performance
Dstv, operated by Multichoice, has seen its subscribers decline from more than 23 million to 19.3 million in less than two years.
The group announced earlier this year that the challenging consumer environment has resulted in a decline in subscribers and limited revenue growth.
'The group was navigating unprecedented external adversities, including macro-economic headwinds, as well as disrupted power supply and severe currency depreciation in some of its key markets in the Rest of Africa.'
DStv price increases
DStv has announced price adjustments across its packages, effective 1 April 2025:
Premium: From R929 to R979 (+R50)
Compact Plus: From R619 to R659 (+R40)
Compact: From R469 to R479 (+R10)
Family: From R329 to R339 (+R10)
Access: From R139 to R150 (+R11)
EasyView: From R29 to R30 (+R1)
Access Fees: From R120 to R125 (+R5)
Add Movies: From R79 to R49 (-R30)
DStv Stream: No adjustment
Showmax PL: From R69 to R99 (+R30)
Showmax Entertainment mobile: From R45 to R50 (+R5)
NOW READ: WATCH: DStv's 'R100' advert deemed misleading by regulatory board
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