- The CEO of Canal+ wants to build one of the top-five largest entertainment groups in the world following the takeover of MultiChoice.
- Maxime Saada says due diligence has not yet been done on the SA-based business, which will determine any future decisions.
- But he added that, unlike MultiChoice, Canal+ strategy isnt one of diversification - it only focuses on content and content distribution.
- News24 Business front page .
Maxime Saada, chair and CEO of the Canal+, is frank in his ambition: He wants to build one of the top-five largest entertainment groups in the world after taking over MultiChoice.
He is far more circumspect in making pronouncements about how MultiChoice will be shaped after the deal but has indicated a preference for a more streamlined business.
Saada met with journalists in Cape Town this week, as Canal+ finally received the MultiChoice boards backing for its bid to take control of the SA-headquartered group. Together, the merged company will have 50 million subscribers (30 million in Africa) making it the biggest entertainment company in the world thats not American.
Maxime Saada, chairman and CEO of the Canal+ Group. (Canal+/Supplied) Supplied
While Canal+ has already invested 1.2 billion (almost R25 billion currently) to build a 45% stake in MultiChoice, he stressed that the company has not yet done proper due diligence and doesnt have enough information to make pronouncements about the business.
