The substantial annual losses experienced by the Showmax business have proved unsustainable, says the video entertainment firm.
The French media giant believes increased scale will enable it to generate substantial savings, particularly across its cost base.
The delisting of the video entertainment group will proceed upon commencement of trading on the JSE and A2X on 10 December.
Canal+ plans to acquire all remaining MultiChoice shares after more than 90% of shareholders accepted its offer, triggering a compulsory buyout.
David Mignot and Nicolas Dandoy will respectively be CEO and CFO of the Canal+ African operations after Calvo Mawela and Tim Jacobs’ resignations.
ITWeb TV: What TikTok monetisation looks like in Africa | Episode #109
In this episode of ITWeb TV, Boniswa Sidwaba, head of content operations at TikTok in Sub-Saharan Africa, discusses monetisation opportunities, programmes available for African content creators, and how TikTok is empowering creators to take their skills to the next level. #TikTok #ITWebtv
The competition watchdog has given the green light to the proposed transaction, subject to agreed restructuring conditions.
For the year ended 31 March, the DStv parent company’s linear subscribers were down 1.2 million, or 8% year-on-year, to 14.5 million active subscribers.
The companies conclude discussions regarding the intended post-transaction structure of MultiChoice.
The firm ensures the telecoms regulator is kept abreast of the progress of the multibillion-rand transaction.
The video entertainment group invested R1.6 billion in its streaming platform in the past six months.
The pay-TV operator faces “the most challenging operating conditions in almost 40 years to generate desired returns”.
The firms make a joint merger control filing for the Canal+ offer to the Competition Commission, as required by the Competition Act.