Canal+ finalizes $3 Billion acquisition of MultiChoice

French media giant Canal+ has officially completed the acquisition of MultiChoice Group, the parent company of DStv and GOtv, in a landmark $3 billion deal, equivalent to about 55 billion rand.

This move follows the approval of the transaction by South Africa’s Competition Tribunal on Wednesday, July 23, clearing the final regulatory hurdle and paving the way for finalization by October 8, 2025.

With this acquisition, Canal+ now holds 100% ownership of MultiChoice, after purchasing the remaining 55% stake it previously did not control.

The deal comes after months of negotiations and reviews, and Canal+ is expected to gain a stronger foothold in the African entertainment space through this strategic expansion.

Already active in 25 African countries and serving over eight million subscribers, Canal+ plans to scale up its operations, targeting between 50 to 100 million subscribers across the continent.

The inclusion of MultiChoice’s wide reach, with over 14.5 million subscribers in 50 sub-Saharan African countries, gives Canal+ significant leverage in the growing African media market.

Canal+ CEO Maxime Saada described the acquisition as “transformative,” noting that the merger will provide greater scale, exposure to high-growth markets, and help both companies achieve operational synergies.

The deal also enables a multilingual content blend by combining Canal+’s French-language programming with MultiChoice’s English and Portuguese platforms.

Aside from strategic growth, the acquisition is expected to breathe new life into MultiChoice. It will bring in fresh capital to support local content production, technological advancement, and innovation in digital services.

The Competition Tribunal’s approval came with conditions aimed at safeguarding South Africa’s media sovereignty. Canal+ committed to spending around 26 billion rand over the next three years to support public interest objectives. These include retaining MultiChoice’s headquarters in South Africa, continued investment in local content and sports programming, and supporting South African content creators.

Both companies jointly pledged to maintain strong support for South Africa’s entertainment industry. “We will maintain funding for South African general entertainment and sports content, providing local content creators with a strong foundation for future success,” they said in a statement.

Canal+ had initially launched its takeover in 2023 with a mandatory buyout offer of 125 rand per share, valuing MultiChoice at $3 billion.

With full control now secured, the French conglomerate is well-positioned to redefine the landscape of Africa’s pay-TV industry and tap into the continent’s vast media potential.