In a historic $3 billion (roughly 55 billion rand) deal, the French media conglomerate Canal+ has formally taken full ownership of MultiChoice Group, the parent company of DStv and GOtv. On Wednesday, July 23, the South African Competition Tribunal approved the acquisition, giving Canal+ the remaining 55% stake it did not previously own.
The approval opens the door for the deal to be finalized by October 8, 2025, following months of rigorous negotiations and regulatory reviews. Although the Tribunal granted approval, it placed a number of public interest restrictions in order to preserve South Africa’s media sovereignty and safeguard indigenous content.
The agreement marks Canal+’s significant strategic entry into the rapidly growing media and entertainment sector in Africa. With more than eight million subscribers already serving 25 African nations, Canal+ is now well-positioned to greatly expand its reach, with 50 to 100 million subscribers expected to join the continent in the upcoming years.
In addition to flagship platforms like DStv and GOtv, MultiChoice, Africa’s largest pay-TV broadcaster, has over 14.5 million subscribers across 50 sub-Saharan African nations. Additionally, the company is home to high-end content brands like SuperSport, which makes it a desirable acquisition for the dominant French media company. “The combined group will benefit from enhanced scale, greater exposure to high-growth markets, and the ability to deliver meaningful synergies,” Canal+ CEO Maxime Saada said, characterizing the deal as transformative.
The combination of Canal+’s French-language programming with MultiChoice’s preeminent English and Portuguese offerings is one of the merger’s main advantages; it creates a multilingual media powerhouse that can cater to a wide range of African audiences. In addition to its strategic importance, the acquisition gives MultiChoice a timely boost.
Canal+ has agreed to invest about 26 billion rand over the next three years in projects that support South Africa’s public interest goals as part of the Competition Tribunal’s conditional approval.
“We will maintain funding for South African general entertainment and sports content, providing local content creators with a strong foundation for future success,” the two companies said in a joint statement, solidifying their commitment to the South African media ecosystem.
In 2023, Canal+ launched its takeover attempt, valuing MultiChoice at approximately $3 billion, with a mandatory buyout offer of 125 rand per share. The French media conglomerate, now that complete ownership has been obtained, is ready to transform Africa’s pay-TV market by utilizing its enormous potential and changing the competitive landscape.
