The transaction, finalised on 22 September 2025, followed Canal+’s mandatory cash offer of ZAR125 per share for all MultiChoice shares it did not already own. MultiChoice created a new entity, LicenceCo, to hold its broadcasting licence under South African control, paving the way for foreign voting restrictions on MultiChoice shares to be lifted. Leadership shake-upFollowing the completion of the deal, MultiChoice has undergone a major leadership shake-up, with its board reconstituted to include both Canal+ executives and independent directors. Canal+ CEO Maxime Saada has been appointed Chair of MultiChoice, while David Mignot takes over as Group CEO. Outgoing MultiChoice CEO Calvo Mawela has been named Chair of Canal+ Africa operations, and former CFO Timothy Jacobs has been assigned a senior position within the merged group’s finance division.