Canal+, the European pay-TV operator, saw its first-half revenues and earnings increase substantially following its $2 billion acquisition of South Africa's MultiChoice. The company reported total revenues of approximately €4.3 billion with adjusted operating earnings of €433 million. However, the impressive growth figures depend heavily on the MultiChoice addition; the company's underlying organic expansion remained modest at roughly 1.4% year-on-year, indicating relatively flat performance in its existing business.

The acquisition is proving strategically valuable, with Canal+ achieving half of its €250 million synergy target ahead of schedule. The company has implemented significant operational changes in Africa, notably discontinuing the Showmax streaming service after it produced substantial losses. Meanwhile, Canal+'s production division performed well with successful theatrical releases and major film deals, and the company has secured long-term sporting rights for African markets including South African professional soccer and upcoming rugby world cups, strengthening its content position in the region.