Canal+ acquires stake in Senegalese production company Marodi TV
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.
Points clés à retenir
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.
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