Canal+ says it expects to deliver more than €400m in EBITA and more than €300m in free cash flow (FCF) run-rate cost synergies from 2030 onwards following its acquisition of MultiChoice.
The group describes the transaction as “transformational”, creating a larger entertainment platform anchored in Europe and Africa, with a combined subscriber base of more than 40 million and leadership positions in around 40 countries.
Canal+ CEO Maxime Saada said the increased scale would unlock “substantial synergies” across the cost base, while also strengthening the group’s ability to capture growth in African markets.
Synergy delivery is expected to ramp over the second half of the decade, measured against an estimated combined 2025 cost baseline of around €8bn.
Implementation costs are expected to be about €35m in 2026, €40m in 2028 and €20m in 2030.
The company says the savings will come from a mix of content, technology and other operating costs, including rationalisation of internal content, negotiations with sports and entertainment rights holders, hardware pricing, optimisation of broadcast infrastructure, convergence of technology platforms, procurement, and reductions across brand, marketing, financing and support functions.
CANAL+ also confirmed a combined Africa management team is now in charge of all African markets under David Mignot. It says actions taken since gaining control of MCG in September 2025 have already secured more than €80m of FCF synergies for 2026, including new content partnerships, hardware price renegotiations, infrastructure optimisation and refinancing of MultiChoice’s long-term debt.
Further detail on the strategy for MCG markets is due alongside CANAL+’s full-year results and a forthcoming strategic update.
