Bye bye MultiChoice: R53 billion takeover by French media giant Canal+ approved
The deal, valued at around R53 billion, will see Canal+ acquire full control of MultiChoice, best known for its DStv and Showmax platforms.
While the approval from the Competition Tribunal is a major milestone, the merger still needs clearance from other regulatory bodies, including Icasa, the JSE, the Takeover Regulation Panel, and the Financial Surveillance Department.
'It is a hugely positive step forward in our journey to bring together two iconic media and entertainment companies,' said Canal+ in a statement.
As part of the approval, the Tribunal imposed conditions designed to protect South African interests: Ongoing investment in local sports and general entertainment content.
Measures to support Historically Disadvantaged Persons (HDPs) and SMEs in the local broadcasting sector.
Guarantees to maintain South Africa's influence over content and access decisions through the continued independence of MultiChoice (Pty) Ltd, which services local subscribers.
'We look forward to executing the remaining processes and to building something extraordinary – a global media and entertainment company with Africa at its heart,' said Calvo Mawela, CEO of MultiChoice Group.
Despite the approval, Canal+ and MultiChoice must still navigate legal and policy hurdles, including South Africa's laws on foreign ownership of broadcasters.
As part of the transaction structure, MultiChoice's South African business will be carved out and maintained independently to comply with these restrictions.
Customers and viewers are not expected to be affected during the ongoing approval process, and both companies have committed to maintaining current services.
Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1
Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
IOL News
32 minutes ago
- IOL News
BUSA calls for coordinated action against US tariffs and AGOA challenges
Business Unity South Africa (BUSA) calls on SA government to act amid economic threats as a result of USA tariffs Image: File Business Unity South Africa (BUSA) has called on the South African government to take urgent, coordinated action in response to the new US import tariff and mounting uncertainty over the African Growth and Opportunity Act (AGOA). BUSA expressed concern over the implementation of broad-based import duties by the US and proposals to introduce reciprocal tariffs on countries running trade surpluses with the US, including South Africa. BUSA CEO Khulekani Mathe said the delay in finalising a framework agreement between South Africa and the US to address the proposed 30% tariff is 'particularly troubling.' Mathe noted that countries such as the UK, Japan, Pakistan, South Korea, the Philippines, Indonesia, and blocs like the European Union had already secured trade deals with the US that reduced or eliminated the original 30% tariff. 'This demonstrates that there is an opportunity for a successful agreement to be reached even after 1 August 2025,' BUSA said, 'provided the country adopts a coordinated approach and prepares a solid offer based on what we can realistically deliver in response to US expectations.' The organisation said the US remains a key trade and investment partner for South Africa, and the AGOA trade preferences have underpinned the relationship for over two decades, supporting key export sectors such as agriculture, automotive manufacturing, and mining. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad loading BUSA warned that the impact of the new tariff on local industries would be 'substantial.' In the automotive sector, South African exports to the US amount to approximately R24.1 billion. These exports are already subject to a 25% tariff under Section 232, and the proposed 30% hike could push total duties to 55%. According to BUSA, 'approximately 20,000 jobs are at risk in this sector,' including jobs at original equipment manufacturers and component suppliers. In the agriculture and agro-processing sectors, about 15,000 to 20,000 jobs are also threatened. Citrus and nut exports, valued at R4.2 billion and currently duty-free under AGOA, could become uncompetitive due to price increases triggered by the tariffs. 'There is a significant risk of trade being diverted to other regions, such as South America and the European Union,' BUSA added. In the mining sector, about 5,000 jobs are at risk, with diamond beneficiation and iron ore exports likely to be negatively affected. BUSA said mitigation measures for these sectors must be incorporated into the government's response and that sector-specific proposals should form part of the framework deal currently under discussion.
The Citizen
an hour ago
- The Citizen
Tips on how to decide who pays to look after elderly parents
Who pays for your elderly parents care is usually the responsibility ofall the children, but not everyone can afford to. With the cost of living increasing more than our parents would have thought, and with them living longer, many are now in a position where they have to depend on their children to pay for their care because their savings fall short. While the responsibility of caring for elderly parents has long been a deeply held value in many South African families, changing social and economic dynamics are reshaping how this care is shared among siblings, Lee Hancox, head of channel and segment marketing at Sanlam, says. 'Today, more adult children are navigating complex caregiving roles, often balancing work, distance and family life, while still honouring the cultural importance of supporting their parents. Even if care for elderly parents is a shared value, the means and methods of providing that care can differ, especially when siblings have different financial situations or 'money personalities'. 'In many South African families, caring for elderly parents is a natural extension of family responsibility, but the way siblings approach this care, especially when financial resources and priorities differ, can be complex.' Even in families where love and commitment to eldercare run deep, siblings may approach financial responsibility in different ways. These differences, often shaped by personal experiences, values and financial habits, can lead to misunderstandings or tension, she warns. 'You might have one sibling who is more spontaneous, wanting to act quickly, provide the best care possible and spare no expense. Meanwhile, another might be methodical, carefully weighing what is affordable and sustainable. Both approaches come from love, but without a shared plan and open communication, these differences can create tension – especially under pressure.' ALSO READ: Warning! The retirement savings gap is widening in South Africa Drawing from professional expertise and personal insight, Hancox shares her top tips to navigate this emotional financial terrain: Start saving for your own retirement from day one Supporting your parents as they age is a profound act of love and respect – one that many South Africans embrace as part of their family values. But it is also important to care for your own financial wellbeing in the process. 'Planning ahead is important. Retirement is not just about reaching a certain age but about preparing for the decades that may follow, including medical costs, frail care and maintaining dignity in daily life.' Hancox says even small steps to save and set financial goals can make a meaningful difference. 'Creating clear boundaries around what you can realistically contribute, both financially and emotionally, can help protect your future and that of your children, while still honouring your commitment to your parents.' ALSO READ: Funding the family: Black tax and the 'sandwich generation' are on the rise Have the tough conversations early, with your parents if possible Initiating conversations about your parents' future care and financial plans can feel uncomfortable, but it is an important step in supporting them with dignity. 'It is not always easy to ask, but having these discussions early can help avoid stress during a crisis.' Hancox says if your parents are in a home that is becoming difficult to maintain, gently explore the idea of downsizing or adapting the space. If their medical cover is limited, investigate options together while there is still time to plan. 'And if emotions run high, consider involving a financial planner or family lawyer – someone neutral who can guide the conversation and help shape a plan that respects everyone's needs. Even meeting in a relaxed setting, like a coffee shop, can help ease the tension and create space for honest dialogue.' ALSO READ: Black tax is hitting a generation regardless of skin colour Find common ground with siblings When your siblings have different financial habits or 'money personalities', planning for a parent's care can be complex. But rather than focusing on differences, it helps to centre the conversation on shared values and your parent's wellbeing, Hancox says. 'A respectful, structured approach can make space for everyone's voice and lead to practical solutions.' She says you can consider preparing guiding questions in advance: What kind of care would Mom or Dad feel most comfortable with? What can each of us realistically contribute – financially, emotionally, or in terms of time? How will we manage unexpected costs together? 'Some may prefer a detailed budget and contingency plan, while others may value flexibility and responsiveness. It is also important to acknowledge who is providing most of the hands-on care and explore how others can support consistently, whether through financial contributions, emotional support, or taking on specific tasks. Open, empathetic dialogue can help families honour their shared commitment while navigating the realities of caregiving.' ALSO READ: Black tax survival guide: Getting your financial groove back Remember what is best for Mom and Dad Hancox says you may never be able to fully measure the sacrifices your parents made, but you can honour them in a way that is sustainable for you and your family. 'That means finding a balance, supporting them with care and dignity, while also protecting your own financial wellbeing and peace of mind.'
The Citizen
an hour ago
- The Citizen
'It's just gone', Trumps tariffs cost SA company R750m overnight
The blow risks the livelihoods of the company's 500 employees and around 3 000 people working in its local supply chain. South African companies are already starting to face the impact of the US President Donald Trump's tariffs, with one losing R750 million in contracts overnight. Trump ordered the reimposition of 30% tariffs on dozens of trading partners, including South Africa, on Thursday – his cornerstone strategy for reshaping global trade to benefit the US economy. The rand fell to its lowest level in three months, while thousands of jobs are in danger. The US president has warned of slapping an additional 10% on the Brics nations and any other economy aligned with the grouping. Millions lost Jendamark Automation, based in Gqeberha, Eastern Cape, is among several businesses that export high-level manufactured goods and agricultural products like ostrich leather and raisins to America, whose products have become 30% more expensive overnight. Managing director Siegfried Lokotsch told City Press that the impact has been swift and severe. The 500 employees at Jendamark Automation build automated assembly lines and develop production software for automotive manufacturers Ford, BMW, Volkswagen and Mercedes-Benz. According to Lokotsch, he had to inform the company's board that contracts worth R750 million, which they were on the verge of signing in the next few months, had evaporated. 'It's just gone.' ALSO READ: Trump's 30% tariffs on SA a 'barrier to trade and shared prosperity', Presidency says [VIDEO] Job losses Lokotsch said the blow risks the livelihoods of the company's 500 employees and around 3 000 people working in its local supply chain. The Nelson Mandela Bay Business Chamber, representing about 700 businesses in the region, is concerned about the scale of the threat. 'Big blow' Denise van Huyssteen, chief executive officer of the Nelson Mandela Bay Business Chamber. said the imposition of the 30% tariffs by the United States on South Africa on 7 August is a big blow for local businesses, especially in the automotive and agricultural sectors. 'The Eastern Cape economy is likely to be the most adversely affected in the country by these developments. This is not just an issue which affects companies that do trade with the US, it is a global issue. 'The global trading system has been upended, and relationships between long-standing trading partners will shift as countries move to protect their own interests and domestic economies. Multinationals will also adjust their manufacturing footprints to assemble in those markets where they can do so the most efficiently and competitively,' Van Huyssteen said. Concerns Van Huyssteen said they are deeply concerned about the impact of these developments may have on our automotive industry which is anchored by the Original Equipment Manufacturers (OEMs) which undertake completely-knocked down assembly in South Africa. 'These OEMs are responsible for creating well over a 100 000 jobs at their own operations and within their components supplier networks. 'Furthermore, it is estimated that the knock-on employment impact of these OEMs and components manufacturers results in over 500 000 formal jobs being created across the entire automotive supply chain. Around 40% of automotive employment in the country is located in the Eastern Cape,' She said. Van Huyssteen said it is essential that the government moves to strengthen trade relations with existing key markets such as Europe and Southeast Asia. 'This must be directed at retaining and growing mutually beneficial trade opportunities.' 'Negotiate' Last week, President Cyril Ramaphosa told journalists that South Africa would use the week-long delay in implementing 30% tariffs to 'negotiate as strongly and as hard as we can' to avoid the penalty and save jobs. South Africa offered to import liquefied natural gas and some US agricultural products, the trade ministry said last week, It said South African firms have also committed to investing in US mining and metals-recycling industries and to pursuing joint investment in critical minerals, pharmaceuticals and agri-machinery. ALSO READ: Ramokgopa dismisses claims US tariffs target BEE policy but admits it needs 'tweaking'
