![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]](https://ocdn.eu/pulscms/MDA_/fa6303505ce4e98229bceb732e7f399b.jpg)
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+ 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.
Investors welcomed forecasts that Canal+ will deliver more than €400 million in annual synergies from the deal by 2030, equivalent to about $479 million at current exchange rates. The company said it has already secured nearly $96 million of those savings for 2026.
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.
Canal+ has also refinanced MultiChoice’s high-cost debt at lower interest rates, strengthening its financial position.
![DStv faces major content uncertainty as Netflix pursues an eighty two billion dollar takeover of Warner Bros, threatening key channels and HBO shows across Africa. [AI Image/Microsoft Copilot]](https://ocdn.eu/pulscms/MDA_/9d6441be7cdef5d321f55375ce8def0f.png)
Ferré cautioned that any consolidation in the global streaming market, such as a potential tie-up between Netflix and Warner Bros Discovery, would not materially change Canal+’s outlook.
“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+ 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]](https://ocdn.eu/pulscms/MDA_/ce120a43cb8262c686a05c4005b6e051.jpg)
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.
