French media company Canal+ has extended the deadline for its proposed acquisition of South African pay-TV giant MultiChoice by six months, allowing more time for regulatory approvals.
The new deadline is now set for 8 October 2025, instead of the initial 8 April timeline.
The merger, which would be Canal+’s largest acquisition to date, aims to strengthen its presence in Africa, particularly in English-speaking markets. The company has been expanding aggressively since separating from its former parent company, Vivendi, in December 2024.
Announcing the extension on Tuesday, Canal+ CEO Maxime Saada said, “The timing of this transaction is critical and we will continue working tirelessly to ensure finalisation within this timeframe.” Both Canal+ and MultiChoice confirmed that while the approval process is still ongoing, the terms of the acquisition remain unchanged.
While the MultiChoice deal is expected to enhance Canal+’s growth prospects, the company has forecasted a decline in revenue for 2025.
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This is attributed to the discontinuation of its free-to-air French channel C8 and the end of key third-party distribution agreements, including one with Disney.
Nonetheless, Canal+ expects moderate growth in subsequent years, even without factoring in the potential impact of the MultiChoice acquisition.
In its latest financial report, the Paris-based company recorded a 2.3% increase in revenue for 2024, reaching €6.4 billion, alongside a 4.2% rise in adjusted earnings before interest and taxes (EBIT) to €503 million.
Since debuting on the London Stock Exchange in December 2024, Canal+ shares have taken a hit, dropping by 40%—a decline analysts attribute to limited clarity on the company’s future strategy and considerations over the pending MultiChoice deal.
However, the broadcaster remains focused on growing its subscriber base, with a target of reaching 100 million subscribers globally.
As of 2024, Canal+ had 26.93 million subscribers, with 17.24 million in Europe and 9.69 million in Africa and Asia. The company is moving its business model towards direct-to-consumer subscriptions, which now account for a significant portion of its revenue.
