Groupe Canal+ SA (Canal+), the media arm of Vivendi, a Paris-based firm controlled by French billionaire Vincent Bollore's Bollore Group, is set to become the majority shareholder in the Mauritian digital Pay-TV company MC Vision.
The French media firm will raise its stake to 75 percent from 37 percent, pending regulatory approvals. The financial details of the deal remain undisclosed. This move supports Canal+'s goal to expand its influence in Africa's media sector.
In line with the terms of the deal, Currimjee Jeewanjee Co., a family business that co-founded MC Vision with Canal+ over 20 years ago, will reduce its stake from 53 percent to 25 percent. Mauritius Broadcasting Corp. will also sell its 10 percent stake. This restructuring aims to enhance MC Vision's content offerings by leveraging Canal+'s resources.
MC Vision's revenue decline, Canal+ investmentMC Vision, established in 1999, has transitioned from satellite TV to premium content delivery. It faced a $27 million revenue drop for the year ending December 2022, attributed to weak consumer confidence and high content costs. Canal+'s increased investment is expected to tackle these issues and enhance MC Vision's market position.
