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Key Points
- French media giant Canal+ is set to become the majority shareholder of Mauritian Pay-TV firm MC Vision, doubling its stake to 75%.
- The move is part of Canal+’s broader strategy to dominate the African media market, following its bid for MultiChoice Group.
- This follows Canal+’s bid for MultiChoice and reflects the company’s broader strategy to dominate Africa’s media landscape.
Groupe Canal+ SA (Canal+), the media arm of Vivendi, a Paris-based firm controlled by French billionaire Vincent Bolloré’s Bollore Group, is set to become the majority shareholder in the Mauritian digital Pay-TV company MC Vision.
The French media firm will raise its stake to 75 percent from 37 percent, pending regulatory approvals. The financial details of the deal remain undisclosed. This move supports Canal+’s goal to expand its influence in Africa’s media sector.
In line with the terms of the deal, Currimjee Jeewanjee & Co., a family business that co-founded MC Vision with Canal+ over 20 years ago, will reduce its stake from 53 percent to 25 percent. Mauritius Broadcasting Corp. will also sell its 10 percent stake. This restructuring aims to enhance MC Vision’s content offerings by leveraging Canal+’s resources.
MC Vision’s revenue decline, Canal+ investment
MC Vision, established in 1999, has transitioned from satellite TV to premium content delivery. It faced a $27 million revenue drop for the year ending December 2022, attributed to weak consumer confidence and high content costs. Canal+’s increased investment is expected to tackle these issues and enhance MC Vision’s market position.
For Canal+, boosting its stake in MC Vision is a strategic move in Africa’s media landscape. The company offers over 4,000 hours of African content across 30 channels in more than 10 languages. This investment not only strengthens Canal+’s distribution but also underscores its commitment to local content and talent.
Canal+ eyes $2.9 billion MultiChoice deal
Controlled by Vincent Bolloré’s Bolloré Group, Canal+ aims to expand its influence across the continent. Earlier this year, Canal+ proposed a $2.9 billion all-cash offer for MultiChoice Group, the South African parent company of DStv. The deal, announced in April, is set to close by April 25, 2025, with regulatory approval expected by April 29, 2025.
Vincent Bolloré, former chairman of Bolloré Group and a key figure in Canal+’s expansion, remains central to the company’s growth. With a net worth of $9.35 billion, Bolloré is ranked 261st on the Bloomberg Billionaires Index, highlighting his global media influence.
