Canal+ Group, the French media giant behind “Paddington,” has completed its long-gestating $2 billion takeover of South African pay TV company Multichoice and announced its new board.

The takeover makes Canal+ the dominant player in Africa’s fast-growing pay TV market, where MultiChoice operates across 50 countries. It also marks a monumental step in Canal+’s strategy.

The acquisition of MCG by Canal+ is the largest transaction ever undertaken by Canal+, bolstering the combined new group’s ambition to be a major global media player.

“Today marks an important step forward for Canal+, as we begin to integrate MultiChoice to create a group with enhanced scale, reach and creativity,” Canal+ CEO Maxime Saada said in a statement.

“Our combined company is unique, a true global media and e

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