Canal+ acquires stake in Senegalese production company Marodi TV

STARTUP VENTURE CAPITALMarch 24, 2024 at 7:56 AM UTC

TLDR

Canal+ Group invests in Senegalese production company Marodi TV, known for popular West African drama series and a large YouTube following.
This investment fits into Canal+'s strategy to enhance its footprint in Africa, aligning with their pursuit of full ownership of MultiChoice, a pan-African TV and streaming company.
Marodi TV, established in 2012, is a leading series producer in Senegal with a substantial content portfolio and significant viewership across Senegal and the African diaspora.

Canal+ Group has invested in Senegalese production company Marodi TV, a prominent figure in West African drama series with a community of six million subscribers on YouTube.

This investment aligns with Canal+'s broader strategy to expand its presence in Africa. Currently, Canal+ is pursuing full ownership of MultiChoice, a pan-African TV and streaming company based in South Africa, in which it presently holds a minority stake.

Established in 2012, Marodi TV has emerged as Senegal's premier series producer, boasting a portfolio of over 600 hours of content. Its productions enjoy widespread popularity not only in Senegal but also among the African diaspora.

Key Takeaways

Since 2020, the French company has gradually raised its ownership stake in MultiChoice from 20.1% to 35.01% by February 2023. According to South African regulations, acquiring more than a 35% stake would obligate Canal+ to make a mandatory offer to MultiChoice shareholders. In February, despite MultiChoice's market capitalization standing at $2.15 billion, the company rejected a non-binding acquisition proposal from Canal+. MultiChoice communicated to its shareholders that it deemed the offer undervalued.

Canal+

Marodi TV

Multichoice

Entertainment

Senegal