Rumour: Nigerian Idol Reportedly Cancelled Due To Cost Cutting At Canal+'s MultiChoice
CANAL+ Becomes First French Company To List In Johannesburg
Shares of pay-TV group CANAL+ rose on its Johannesburg Stock Exchange trading debut on Wednesday, when it became the first French company to list in South Africa following a deal with local broadcaster MultiChoice Group last year.
The company, which has a primary listing in London, climbed to 58.50 rand at market open
At the time of CANAL+’s acquisition of MultiChoice in 2025, it said it would have a secondary listing in South Africa, providing a boost for Johannesburg’s stock exchange, which has suffered from a series of departures and few high-profile joiners in recent years.
CANAL+, which had a market capitalisation of £2.25 billion (51 billion rand) on the day prior to its pre-listing announcement on May 12, is the only global media and entertainment group on the exchange.
Its move into English-speaking Africa reflects its stated ambition to become a global entertainment platform across Europe, Africa and Asia.
CEO Maxime Saada said the Johannesburg secondary listing aligns the group’s capital, government relationships and creative resources with African investors, partners and audiences.
“Our hope is for this listing to enhance the liquidity of our shares, to broaden our shareholder base and to support our growth ambitions. But more than that, we believe that we can create value in Africa,” he told spectators before blowing into a Kudu horn to signal the company’s market debut.
JSE chairman Phuthuma Nhleko said the listing reflects strong global confidence in South Africa’s capital markets, reinforcing the bourse’s role in linking international capital with African growth opportunities, and highlights continued belief in the continent’s long-term prospects.
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The Rooms Network Confirms Additional Channels In Development At Canal+'s MultiChoice
Last year, Paramount had closed down its operations across Africa affecting brands like BET and MTV Base as well as local productions on MTV and Nicktoons. Similar to Amazon Prime Video, they no longer produce original content in Africa.
Canal+ which took over MultiChoice's operations late last year had told regulators and the media that DStv consumers should expect more content during the year. This prompted the inclusion of BASE Pulse as a replacement to MTV Base.
It looks like MultiChoice might be eyeing Newzroom Afrika's parent company The Rooms Network for channels. Not long ago, The Rooms Network announced that Movie Room will be producing its first feature film, Thuli's Doek.
Within the description column of their press release, it was also stated "additional channels in development". The Rooms Network had expressed interest venturing toward general entertainment as seen with Movie Room and Play Room.
With BASE Pulse that launched in place of MTV Base, we can only assume The Rooms Network could be looking to replace BET on DStv.
The Rooms Network has been dubbing international films and TV shows in Zulu with the announcement of its first feature film, Thuli's Deck. It wouldn't seem far fetched a stretch to think that one of the channels in development was BET inspired.
Following the removal of 1Magic and Me, there had been talks of another TV channel in development. This channel was said to be locally infused while boasting content from other TV channels and it's likely this formed part of the additional channels.
After rivalling with Cartoon Network, TNT and likely the rest of M-Net's linear offering. We can assume if another TV channel(s) is in development it would either target Bravo or most definitely Telemundo.
Canal+ Is Looking To Align MultiChoice's Business With International Vendors
DStv Might Be Restructuring It's Promo Channel
Could Canal+ Be Looking To Rebrand M-Net's African Channels On DStv?
Canal+ To List On JSE As Revenue Continues To Plummet
CANAL+ has reported broadly flat revenues for the first quarter of 2026, as the group moves into the operational phase of its post-acquisition strategy following the addition of MultiChoice Group.
Total group revenues reached €2.17 billion, down 0.4% on a comparable basis including MultiChoice, but up 1.8% to €1.57 billion when excluding the African business. On a reported basis, revenues increased 41% reflecting the enlarged scale of the group.
CEO Maxime Saada said the company had made a “solid start” to the year, with execution of its strategy now underway and early synergies from the MultiChoice deal being delivered in line with expectations.
In Europe, revenues fell 1.6% to €1.13 billion, following the end of the distribution of DAZN in France, as well as the divestment of the DTH subscriber base in Hungary in 2025. However, Poland remained a bright spot, with continued growth in OTT subscriptions and advertising revenues. The OTT business in Austria also made a strong start.
Africa and Asia revenues rose sharply to €889 million due to the inclusion of MultiChoice, though on a like-for-like basis revenues declined slightly, reflecting ongoing pressure on the South African operator’s non-subscription income. Subscription revenues remained broadly stable at constant currency.
The group confirmed that its MultiChoice turnaround plan is now in motion, including expanded sales operations and revised pricing strategies. At the same time, CANAL+ is progressing with cost synergies, targeting €250 million in savings in 2026.
Streaming also remains a key area of transition. The group will phase out the Showmax OTT service by the end of April, migrating content and users onto MultiChoice’s DStv platform as part of a broader platform consolidation strategy.
Content production arm STUDIOCANAL delivered a strong performance, with revenues up 9% driven by box office success across multiple territories and continued growth in content licensing.
Elsewhere, video platform Dailymotion reported advertising growth, particularly in the US, alongside expansion of its professional services offering.
CANAL+ reiterated its full-year guidance, expecting flat revenues and adjusted EBIT of €735 million, with free cash flow above €250 million.
The group is also preparing for a secondary listing on the Johannesburg Stock Exchange on 3 June, marking a key milestone following its expansion into African markets.
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Canal+ To Shutter Showmax Streaming Service By The End Of April As Content Moves To DStv Stream
Showmax has today confirmed key dates marking the end of the streaming service that has operated across 44 markets in Sub-Saharan Africa for the past 11 years.
In an email sent to subscribers on Wednesday evening, the platform outlined a phased wind-down of its current service, with 31 March 2026 set as the final day for subscription renewals and voucher redemptions. From 1 April 2026, new subscriptions and renewals will no longer be available.
Existing subscribers will continue watching content until their subscription expires, or until the end of April 2026, whichever comes first.
This new update provides the clearest consumer-facing timeline yet, following the announcement roughly two weeks ago that Canal+ would shut down Showmax, citing “unacceptable” losses at the African streamer as it sought cost-saving measures.
That announcement sent shockwaves across the industry, from Nairobi to Lagos to Johannesburg, with filmmakers and actors raising concerns over the loss of a key African platform that had, for over a decade, commissioned and amplified local storytelling at scale.
At the same time, the announcement was also met with uncertainty, particularly due to the absence of a clear shutdown timeline or transition plan for subscribers.
Even now, some subscribers have already begun expressing frustration over the short transition window. “It’s really annoying how little time is left,” one subscriber and regular Showmax viewer said in a WhatsApp message.
Showmax Originals will now move to DStv Stream, positioning it as MultiChoice’s central hub for streaming offering, at least for now.
“Showmax is starting a new chapter, and your favourite shows are getting a shiny new home on DStv Stream,” the company said in the email.
But the language used in the communication also suggests that there is more to come. In stating that the content will join “a bigger world of entertainment, all in one place,” MultiChoice hints at a broader consolidation strategy — one that could see Canal+ and MultiChoice’s currently fragmented digital products folded into a more unified streaming ecosystem. There have been reports that Canal+ is exploring a single “super app”, one to rule them all, though this remains unconfirmed at this stage.
In the meantime, it remains unclear whether Showmax users will be migrated to DStv Stream, and what that process would look like in terms of pricing, packaging and access, especially given the current price disparity between the two services.
The company says further details on how subscribers can continue “enjoying Showmax Originals and more” on DStv Stream will be shared soon.
For now, it’s confirmed without a doubt that Showmax is entering its final weeks.
Parliament Looking To Intervene In Canal+'s MultiChoice Decision To Discontinue Showmax
Parliament's Portfolio Committee on Communications and Digital Technologies is planning a special oversight visit to the broadcasting sector following Canal+'s announcement to discontinue its unprofitable streaming service, Showmax.
This decision comes after Economic Freedom Fighters (EFF) MP Sixolise Gcilishe contacted the committee chairperson, Khusela Sangoni-Diko, regarding the shutdown. Launched by MultiChoice in 2015, Showmax has been a platform for African films and TV series, available in at least 44 African countries.
"MultiChoice, part of CANAL+ SA ... today announces the forthcoming discontinuation of the Showmax service," Canal+ said in a statement.
"The substantial annual losses experienced by the Showmax business have proved unsustainable."
Gcilishe had requested that MultiChoice (Pty) Ltd provide an update to the committee on the termination of the Showmax platform, the associated job losses, and the prospects for local productions.
“This decision raises significant concerns relevant to our committee's responsibilities, particularly regarding the support of the local creative industry, job retention, and adherence to transformation goals within our digital economy.
“Showmax has been crucial in contributing to our national identity and pushing the South African narrative by providing a platform for local producers, actors, writers and technical teams,” Gcilishe said.
“Any significant corporate changes by a major entity like MultiChoice will likely result in job losses, affecting not just the company but also the wider creative sector, including writers, directors, editors, and freelance workers reliant on streaming services for income.”
Gcilishe asked that MultiChoice be prepared to address the following specific topics in their presentation:
• the definitive timeline and rationale for ending or restructuring Showmax,
• a thorough assessment of the potential job losses, both at MultiChoice and within the wider film and television industry, and
• The future of existing Showmax Original productions and their accessibility to South African viewers.
Sangoni-Diko said that the matters Gcilishe raised are significant to the stability of South Africa’s creative economy and the sustainability of local content production.
“It is for this reason that the committee had already initiated engagements with key entities with a view to inviting them to account to Parliament.
"The Independent Communications Authority of South Africa (ICASA) and the Competition Commission are scheduled to brief the committee on 17 March 2026 on the regulatory conditions, public interest commitments, and compliance requirements linked to the final approval of the Canal+ acquisition of MultiChoice,” Sangoni-Diko said.
“Following this, the committee is working on scheduling a special oversight visit to the broadcasting sector on 31 March and 1 April 2026, covering eTV, MultiChoice, and other commercial broadcasters,” she said.






