French media conglomerate Canal+ has finalized its landmark acquisition of MultiChoice Group, the parent company of DStv and GOtv, in a deal valued at approximately $3 billion (55 billion rand).
The takeover, which gives Canal+ the remaining 55% stake it did not previously own, was officially approved by South Africa’s Competition Tribunal on Wednesday, July 23.
This monumental transaction, following months of negotiations, regulatory scrutiny, and strategic positioning, is set to be fully completed by October 8, 2025. While granting its approval, the Tribunal imposed several public interest conditions aimed at preserving local content, protecting media sovereignty, and ensuring continued support for South African creatives and infrastructure.
For Canal+, the acquisition represents a bold expansion into Africa’s fast-growing media and entertainment landscape. Already active in 25 African countries with over eight million subscribers, the French firm is now poised to significantly scale its reach, targeting between 50 and 100 million subscribers across the continent in the coming years.
MultiChoice, Africa’s largest pay-TV broadcaster, brings a massive footprint of more than 14.5 million subscribers in 50 sub-Saharan African countries. It also owns some of the continent’s most iconic content platforms, including DStv and GOtv, as well as SuperSport, a leading brand in sports broadcasting.
Canal+ CEO Maxime Saada described the acquisition as transformative. “The combined group will benefit from enhanced scale, greater exposure to high-growth markets, and the ability to deliver meaningful synergies,” Saada said.
One of the most significant advantages of the deal is the merging of Canal+’s strong French-language content with MultiChoice’s dominant English and Portuguese offerings. This creates a multilingual media powerhouse capable of delivering diverse content to millions of viewers across Africa.
The acquisition also provides a much-needed financial boost to MultiChoice. The infusion of capital is expected to support investments in local content production, technological upgrades, and innovation in digital platforms—ensuring MultiChoice remains competitive in an increasingly globalized market.
As part of its conditional approval, the Competition Tribunal stipulated that Canal+ must invest approximately 26 billion rand over the next three years in initiatives that align with South Africa’s public interest. These commitments include maintaining MultiChoice’s headquarters in South Africa, sustaining investment in local and sports content, and providing direct support to South African content creators.
In a joint statement, Canal+ and MultiChoice emphasized their continued dedication to the South African media landscape: “We will maintain funding for South African general entertainment and sports content, providing local content creators with a strong foundation for future success.”
Canal+ initially launched its takeover bid in 2023 with a mandatory buyout offer of 125 rand per share, valuing MultiChoice at $3 billion. Now, with full ownership secured, the French media giant is set to reshape the future of pay-TV across Africa—unlocking new opportunities and redefining competition in one of the world’s most dynamic entertainment markets.
