French The parent company of Africa Magic, MultiChoice, is being offered $2.9 billion by Canal+

Right present, Canal+ is selling shares for $6.73. Both firms announced on Monday, April 8, 2024, that Multichoice, the parent company of Showmax, DSTV, and Africa Magic, has received an offer from Canal+, the largest media conglomerate in France, to purchase the remaining shares of Multichoice for $2.9 billion."A combined group would be better positioned to address key structural challenges and opportunities resulting from the progressive digitalisation and globalisation of the media and entertainment sector," the companies said. With this initiative, Canal+ is now positioned to take the lead in the African paid content market and emerge as the largest provider of news, sports, and entertainment content on the continent. MultiChoice is already majority owned by Canal+.