Canal+ is committed to more “Shaka Ilembe” with the closure of a multiple deal
Canal+ committed to “weakness” on local African content made with large budgets such as Shaka Ilb With the closure of its acquisition of the giant Multichoice in South Africa, where the CEO Maxime Saada revealed today the new team.
Saada addressed the press and investors this morning after the news, which he described as “the largest treatment we have” that will create “global media and entertainment”, serves more than 40 million subscribers in nearly 70 countries in Europe, Africa and Asia with 17,000 employees. The acquisition must be complete on October 7.
Saada, who has become the Chairman of the New Canal+-Multichoice Board of Directors, has revealed the group’s Supreme Command team based in Johannesburg. Calvo Mawla, CEO of Multichoice, leaves his role with financial manager Timothy Jacobs, who was replaced by David Meghanet, who becomes the CEO of Multichoice, Canal+ Africa, and Nikolas Dando Africa.
MAWELA is still with the group as head of Canal+ Africa and Jacobs will hold a great financial position. MIGNOT was former CEO of Africa and Canal+ International and will reveal his new team in the coming days.
Sada said that MIGNOT, “high -experience executive director of the media”, said that the new council “combines good judgment with sustainable growth.” He added: “Its formation aims to secure stability, new skills and international experience.”
Saada rejected the idea that the promotion of French executives to the upper roles is “arrogant”. “There is no arrogance,” he added. “Calvo plays a new role as president of Africa, and for this reason more than half of the council will remain. It was African that our African operation is run by Africans.”
“Double” on local content
To answer a question from the deadline, Saada said that the new group will urge the resources to local content such as the large productive visits Shaka Ilb and flirtWhich was made by the channel+ and Multichical. The life of the legendary Zulu king dates, Shaka Ilb The third season is already in production and was a great success.
Sada added: “Putting more financial resources in this content is the key, because the stories are in Africa and the talent is present in Africa, but what sometimes lacks is the resources. We have seen with them. flirt or Shaka Ilb Whenever the content is produced with global production, it shines and not only in Africa, but this content travels well outside Africa. ”
MIGNOT, which is now overseeing 100 TV channels and 10,000 hours of content annually, committed a “more absolute” spending on local content. He said this would be a “very important” character, but she could not remember the number. We asked the channel+ for this number.
Speaking alongside Saada and Mignot on the call, Mavela said that the USP for the new group will be “stories in Africa that have not been listed and we want to travel.” He added: “We realize that we do well in terms of our investments in local content.” “Maxime understood that pluralism and investment will be supported from the first day, so that this continues.”
Saada denied that the deal will create problems in terms of influencing local news, as CEO confirms that Canal+ will not launch local news networks on the continent but will focus on entertainment and sports. He added: “We have not done any news in Africa, and we intend to continue to focus on entertainment and sports.” “Carrying news channels is another, and for this, we committed not to participate in these types of decisions.”
In August, the International Press Institute raised concerns about “potential editorial intervention and silence critical reports” in Africa after the deal, which he said would create “actual monopoly, and give [Canal+ controlloing shareholder] Bolloré Group is an enormous effect on the flow of information and the nature of the content that reaches millions of African families. “
A decision will also be taken in the coming weeks or months on the future of Showmax, a Multichoice traine that sold 30 % of the NBCunivesal share of Comcast last year.
“Beautiful puzzle meets”
The Mega Canal+-Multichoice deal took some time to be organized by the competition organizer in South Africa, which recently gave her approval during the summer.
Canal+ previously had a 46 % minority stake in Multichoice. The South African Competition Court approved the deal subject to the “agreed conditions”, which included maintaining local financing for the general entertainment content in South Africa, and providing local creators with an opportunity.
Sada said that the lack of “duplication and regional interference” makes the deal “a beautiful puzzle.” He added that the channel+ is located in 50 countries, about half of it in Africa, but none of them interferes with 16 African countries in Multichoice.
Saada also confirmed that the new group will be included on the South African Stock Exchange as soon as possible, with more details about this expected after October 7 once Canal+ emphasizes the amount of multiple property rights you will own.
He added: “We have always been very clear that we want to include in Johannesburg.” One question remains [over the equity] Depending on this result, we will see where it takes us, but there will be a list in South Africa and London on the other side. “
The company, which is based in Paris, launched the former father, Vivendi, late last year and listed on the London Stock Exchange, becoming the first media company to do so in several years. The stocks appeared slightly on the multi -day announcement today and is currently trading in 238p ($ 3.21) in London. Canal+ saw its sales increased by 3.6 % to 6.45 billion euros ($ 7.6 billion) in 2024 compared to the previous year, thanks to the production of the higher film studio and subscriptions. The profits increased before benefits, taxes, depreciation and consumption by 5.4 % to 503 million euros.
Melanie Godfello contributed to reporting