Broadcasting
MultiChoice and Canal+ Buyout Deal Forges Ahead

MultiChoice and French media giant Groupe Canal+ have released a joint circular detailing plans and dates for the proposed buyout of the DStv operator at R125 per share.

The circular covers what happens to shareholders who choose not to sell, reiterates Canal+’s plan to list on the JSE, and provides some idea of how the companies might handle foreign ownership restrictions on broadcasters.
Canal+ has steadily bought up MultiChoice stock on the open market since October 2020 and hit a 35% threshold at the beginning of the year, triggering a mandatory buyout offer.
After some wrangling from MultiChoice and a reprimand from the Takeover Regulation Panel, Canal+ offered R125 per share, valuing the company at over R55 billion.
The buyout will cost Canal+ over R30 billion in cash, and the company has continued buying MultiChoice shares while its offer is being considered.
The Takeover Regulation Panel last reported in May that Canal+’s shareholding stood at 45.2%.
Tuesday’s circular shows Canal+ has not bought any additional shares since 10 May 2024. Its average buy price for the past six months has been just over R100 per share.
The circular states that the deal is still subject to several regulatory approvals, including from the Financial Surveillance department, the Competition Tribunal, the JSE, the Takeover Regulation Panel, and other government authorities.
One of the other government authorities is the Independent Communications Authority of South Africa (Icasa), the custodian of the Electronic Communications Act (ECA).
Under the ECA, a foreigner may not, whether directly or indirectly:
- Exercise control over a commercial broadcasting licensee; or
- Have a financial interest or an interest either in voting shares or paid-up capital in a commercial broadcasting licensee exceeding 20%
Exercise control over a commercial broadcasting licensee; or
Have a financial interest or an interest either in voting shares or paid-up capital in a commercial broadcasting licensee exceeding 20%.
Canal+ and MultiChoice have stated that they are exploring several options to comply with these requirements following the buyout.
These include a corporate reorganisation, participation by one or more local BBBEE partners, and mechanisms to limit the voting rights of foreigners.
The latter includes a potential limit on MultiChoice’s voting rights over the licensed entities in the MultiChoice Group.
In March, Bloomberg reported that billionaire Patrice Motsepe was in talks with Canal+ to join its bid for MultiChoice.
Regarding shareholders who do not accept the offer, the companies said they will remain invested provided Canal+’s shareholding remains below 90%.
Canal+ reserves the right to invoke Companies Act provisions allowing it to buy out the last remaining shareholders and delist the company should its ownership exceed 90%.
They also committed to engage with the JSE in the event that MultiChoice’s free float dips below the stock exchange’s liquidity requirements.
“MultiChoice shareholders are reminded that Vivendi SE, the parent company of Canal+, is currently undertaking a feasibility study for the proposed split of the company into several separately listed entities,” the circular stated.
“Canal+ intends that, should its planned European listing proceed, there will be an opportunity for South African investors to become shareholders of the combined entity as part of a secondary inward listing on the JSE.”
The companies explained that if Canal+’s listing occurs before its offer becomes unconditional, it will consider revising it to give MultiChoice shareholders an opportunity to have exposure to the combined group.
MultiChoice and Canal+ said the offer opens at 09:00 on 5 June 2024.
They aim for it to become wholly unconditional by no later than Tuesday, 8 April 2025.
The last day to trade to participate in the offer is 22 April 2025, and it closes at noon on Friday, 25 April 2025.
Broadcasting
SERAP, NGE Sue NBC over Threat to Sanction Broadcasters

Socio-Economic Rights and Accountability Project (SERAP) and the Nigerian Guild of Editors (NGE) have jointly sued the National Broadcasting Commission (NBC) over what they described as an “arbitrary, unconstitutional, and unlawful” threat to sanction broadcast stations and presenters.

The development was disclosed in a Sunday statement signed by Kolawole Oluwadare, deputy director, and Onuoha Ukeh, general secretary of the Nigerian Guild of Editors.
According to the statement, SERAP and NGE challenged a recent directive by NBC, warning presenters and journalists against “expressing personal opinions as facts,” “bullying or intimidating guests,” and failing to maintain neutrality.
The statement reads, “SERAP and the Nigerian Guild of Editors (NGE) have filed a lawsuit against the National Broadcasting Commission (NBC) over the arbitrary, unconstitutional, and unlawful ‘Formal Notice’, which threatens to sanction broadcast stations and presenters for allegedly ‘expressing personal opinions as facts, bullying or intimidating guests, or failing to maintain neutrality.’
“The NBC had recently threatened to sanction broadcast stations and presenters who ‘express personal opinions as facts’ or ‘bully and intimidate guests,’ claiming it had ‘identified a sustained increase in breaches of the 6th Edition of the Nigeria Broadcasting Code across news, current affairs, and political programmes.’”
In the suit marked FHC/L/CS/854/2026 filed last Friday at the Federal High Court in Lagos State, SERAP and NGE asked the court to determine whether the various provisions of the Nigeria Broadcasting Code relied upon by the NBC in the directive are inconsistent with the Nigerian Constitution 1999 (as amended) and the country’s international human rights obligations.
According to the statement, the groups disclosed that Femi Falana (SAN), human rights lawyer, would lead a team of senior lawyers to represent SERAP and NGE in the lawsuit.
SERAP and NGE asked the court to declare that the provisions of the 6th Edition of the Broadcasting Code used by the NBC are vague and constitute a fundamental breach of press freedom guaranteed by the Nigerian Constitution and international human rights standards.
The statement added, “SERAP and NGE are asking the court for a declaration that the provisions of the 6th Edition of the Broadcasting Code used by the NBC are vague and overly broad and constitute a fundamental breach of freedom of expression and media freedom guaranteed by the Nigerian Constitution and international human rights standards.”
The groups also sought an interim injunction to restrain the NBC, its agents and other authorities from imposing sanctions on broadcast stations and presenters based on what they described as “unlawful provisions of the 6th Edition of the Broadcasting Code”, pending the hearing and determination of the motion.
“SERAP and NGE are also seeking an order of interim injunction restraining the NBC, its agents or privies, whether jointly or severally or any other authority, from imposing sanctions on broadcast stations and presenters based on the patently unlawful provisions of the 6th Edition of the Broadcasting Code, pending the hearing and determination of the motion on notice filed simultaneously in this suit,” the statement concluded.
Broadcasting
Glo-sponsored African Voices Spotlights Ejatu Shaw

Globacom continues to celebrate African creativity as its sponsored programme African Voices on CNN International features London based photographer and multidisciplinary artist Ejatu Shaw this week. The episode highlights her journey, her art, and the stories behind her work.

Ejatu Shaw’s journey into photography began in 2013 during a family trip to Sierra Leone, a moment that sparked a passion which has since shaped her creative path. Born in 1996, the British Sierra Leonean artist later went on to earn a master’s degree in photography arts from the University of Westminster in 2020.
Her work explores identity in a personal and expressive way, drawing from her Islamic faith and African heritage. She is inspired by classic African studio photographers such as Malick Sidibé, Sory Sanlé, and Omar Yahia Barram. Through self-portraits and visual storytelling, she brings her memories and experiences to life.
Shaw’s talent continues to gain global recognition. In 2025, the British Fashion Council named her a New Wave Creative.
She has also photographed top names including Angela Bassett, Cynthia Erivo, and Usain Bolt, and worked on projects for major platforms like EBONY, The Guardian, The Sunday Times, and Vogue. She also designed the album cover for Craig David.
The programme will air on Saturday at 7:30 a.m. and 11:00 a.m. On Sunday, it will show at 3:30 a.m. and 6:00 p.m., with repeats on Monday at 3:00 a.m. and 5:45 p.m.
Broadcasting
QEDNG Summit 2026 set for August 11 in Lagos

QEDNG Creative Powerhouse Summit will hold its second edition on August 11 in Lagos, bringing together leaders across the creative, business and policy spaces.

Convened by Mighty Media Plus, publishers of online newspaper QEDNG, the summit brings together conversations at the intersection of creativity, enterprise and influence, with a focus on strengthening Nigeria’s creative economy.
Reflecting on the inaugural edition, Iyanda said the summit drew participation from respected figures across sectors, including group managing director of SO&U Udeme Ufot as chairman and founder of The Africa Soft Power Group Dr Nkiru Balonwu as keynote speaker, alongside panellists such as filmmaker Kunle Afolayan, All Africa Music Awards (AFRIMA) founder Mike Dada and executive director of the National Film and Video Censors Board (NFVCB) Dr Shaibu Husseini who contributed to discussions on the direction of the creative economy.
“The first edition showed that there is a strong interest in serious engagement around the creative economy. We had contributions from experienced voices who helped set the tone for the kind of platform we are building,” Iyanda said.
Building on the success of its inaugural edition, the summit continues to expand its scope, attracting a diverse mix of industry leaders, entrepreneurs, policymakers and emerging talents.
“This summit is designed as a meeting point for ideas, influence and execution. It is not just about conversations, but about outcomes that strengthen the creative economy,” Iyanda added.
He noted that the timing of the summit is significant as the country’s creative sector continues to evolve.
“Nigeria’s creative sector has grown in visibility, but the structures that support it are still evolving. The QEDNG Creative Powerhouse Summit is part of the effort to bring clarity, direction and serious engagement to that growth,” he said.
The 2026 edition will feature keynote addresses, panel discussions and curated sessions addressing themes around innovation, growth, funding and the global positioning of Nigerian creative talent.
According to Iyanda, the long-term goal is to build a platform that remains relevant across generations.
“Our goal is to build a platform that remains useful over time, one that documents progress, connects stakeholders and contributes meaningfully to policy and practice,” he said.
Further details on speakers, partners and the full programme will be announced in the coming weeks.
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