Canal+ Group, the French pay-TV operator, has announced that it has bought a 6.5% stake in DStv parent company, MultiChoice Group.
Johannesburg Stock Exchange-listed Multichoice has approximately 19.5 million subscribers in 50 countries.
In a statement, Canal + said the acquisition, a long-term financial investment, demonstrates the confidence of Canal + Group and its shareholder Vivendi, in the prospects of MultiChoice and of the African continent, to which they are very attached.
Canal is increasingly looking outside of France to expand its footprint; having acquired the European M7 Group in May 2019. It has long served subscribers in French-speaking Africa, where it has more than 4 million sub
Canal+ is owned and controlled by Vivendi and produces movies and television shows. It has a significant pay-television business and a film library of more than 5 000 titles. It is headquartered in Issy-les-Moulineaux, outside Paris.
Recall that in July last year, CanalPlus acquired ROK film studio from Video On Demand (VOD) company IROKOtv for an undisclosed amount. ROK film studios create original content for IROKOtv, which can be accessed online anywhere in the world.