After several-week delay, MultiChoice says new chair has stepped into position

MultiChoice, the owner of DStv and Showmax, said on Tuesday deputy chair Elias Masilela has now shifted to chair almost a month after he was originally supposed to.

In September, the group had announced that former chair Imtiaz Patel would be stepping down with effect from the end of March, but it then announced in early April that he had deferred his departure amid discussions with French media giant Canal+, which is interested in a takeover.

The group said on Tuesday that as it has now signed a cooperation agreement with Canal+, and received a firm intention offer, the transaction has shifted to a new phase.