French media giant, Canal+ has extended the deadline for its acquisition of South African pay-TV broadcaster MultiChoice by six months, moving the anticipated completion date to October 8, 2025.
This extension is to allow more time for regulatory approvals, which are still pending.
The delay stems from South Africa’s stringent regulations on foreign ownership in the broadcasting sector.
South Africa’s Electronic Communications Act caps foreign ownership in broadcasting licenses at 20 per cent, posing a hurdle for Canal+ in its bid to acquire MultiChoice.
In response, Canal+ and MultiChoice have proposed a strategic restructuring plan. This plan involves creating a new entity, ‘LicenceCo,’ which will hold the broadcasting license.
LicenceCo is designed to be majority-owned by historically disadvantaged persons, including entities such as Phuthuma Nathi, Identity Partners Itai Consortium, Afrifund Consortium, and a Workers’ Trust.
This restructuring aims to ease regulatory approval while advancing Canal+’s African expansion.
MultiChoice Group will retain a 49% economic interest and 20% voting rights in LicenceCo, ensuring compliance with South African ownership regulations while maintaining its Broad-Based Black Economic Empowerment credentials.
Despite delays in the acquisition process, MultiChoice remains active in its core markets, continuing operations without disruption.
