Canal+ Plans Johannesburg Listing After $2B MultiChoice Deal
TLDR
- French media group Canal+ said it will seek a secondary listing on the Johannesburg Stock Exchange (JSE) following its acquisition of South African broadcaster MultiChoice
- The deal gives Canal+ a major foothold in Africa, combining its pay-TV operations with MultiChoice’s extensive subscriber base
- The JSE listing will take place after MultiChoice is delisted, a move expected before year-end
French media group Canal+ said it will seek a secondary listing on the Johannesburg Stock Exchange (JSE) following its acquisition of South African broadcaster MultiChoice, completed in September for about 35 billion rand ($2 billion).
The deal gives Canal+ a major foothold in Africa, combining its pay-TV operations with MultiChoice’s extensive subscriber base. Together, the companies serve more than 40 million subscribers across nearly 70 countries.
The JSE listing will take place after MultiChoice is delisted, a move expected before year-end. Canal+ has pledged to begin trading in Johannesburg by September 2026 — within nine months of the delisting — while keeping its primary listing on the London Stock Exchange.
Canal+, spun off from Vivendi in December 2024, is pursuing a strategy to position itself as a global content platform, focusing on Africa and Asia. Detailed plans for the integrated group will be presented in early 2026.
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Key Takeaways
The Johannesburg listing marks a symbolic and strategic step for Canal+ as it deepens its presence in Africa’s fast-growing media and streaming market. The move follows a wave of cross-border mergers in the global entertainment industry, where scale and regional reach are becoming critical for competing with international platforms. By listing in Johannesburg, Canal+ aims to broaden its investor base and strengthen local engagement in markets that account for a rising share of its growth. MultiChoice, best known for its DStv and Showmax brands, brings strong local content production and distribution networks across sub-Saharan Africa. Analysts see the merger as reshaping Africa’s pay-TV landscape, combining Canal+’s French-language dominance in West and Central Africa with MultiChoice’s English-speaking market strength in the south and east. The integration could also accelerate the rollout of streaming services and original productions tailored to African audiences, positioning the combined group as the continent’s leading media player.
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