Canal+ forecasts $479 million in annual synergies by 2030 after $3 billion MultiChoice acquisition

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French media group Canal+ has outlined significant cost-saving expectations from its $3 billion acquisition of South African pay-TV operator MultiChoice, sending its shares to record highs on Thursday, January 29, 2026.

Canal+ headquarters as the French media group projects nearly $479 million in annual cost savings from its MultiChoice acquisition, with Africa central to its long-term growth strategy. [X, formerly Twitter]

Canal+ expects close to $479 million in annual synergies from its $3 billion acquisition of MultiChoice by 2030.
The French media group says it is already securing cost savings through supplier consolidation and debt refinancing.
Losses at MultiChoice-owned streaming platform Showmax have been flagged as unsustainable and under review.
Canal+ plans to expand its app deeper into African markets, citing population growth and rising electrification.

Canal+ financial targets show cost reductions ramping up over the next few years, with an expected $180 million in 2026.

These figures are measured against an estimated combined 2025 cost base of nearly $9.6 billion.

The group’s strategy reflects a drive to transform from a traditional pay-TV business into a global entertainment player capable of taking on streaming giants such as Netflix and Disney in markets spanning Africa, Europe, and beyond.

Chief Financial Officer Amandine Ferré told Reuters that the group has begun capturing efficiencies through consolidated sourcing for set-top boxes, cloud services, and satellite infrastructure.

“The bigger you are, the better leverage you will have in the discussion,” she said, emphasising the benefits of scale.

Nevertheless, she acknowledged that tough choices lie ahead, particularly around MultiChoice’s streaming service, Showmax. Ferré described the platform’s losses as “not acceptable for us,” and said Canal+ was evaluating its future.

The company is prioritising overall subscriber growth, but Ferré noted this would take time and require rebuilding distribution networks in some regions.

Expansion project

Canal+ is also reviewing how it positions its brands across markets, including whether to align the MultiChoice and Canal+ identities or maintain separate offerings.

Looking ahead, Canal+ plans to expand its French-language app, which is currently available in almost 30 countries, into MultiChoice’s African territories.

Management cited demographic and economic trends on the continent, including rising populations, GDP growth forecasts, and increasing electrification, as drivers of long-term opportunity.

In Asia, the group is considering further investment in streaming platform Viu, in which it already holds a stake. Ferré said Viu is now the second-largest streaming service in that region behind Netflix.

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