French media powerhouse Canal+ acquires MultiChoice in $3bn deal

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French entertainment giant Canal+ has secured full ownership of MultiChoice Group, the parent company of DStv and GOtv, in a historic $3 billion (about 55 billion rand) acquisition. The deal, which gives Canal+ the remaining 55% stake it did not previously hold, was approved by South Africa’s Competition Tribunal on Wednesday, July 23.

The approval follows months of high-level negotiations and regulatory scrutiny and sets the stage for the deal’s finalisation by October 8, 2025. However, the Tribunal attached strict public interest conditions to protect local content production and South Africa’s media sovereignty.

For Canal+, the acquisition represents a major strategic expansion across Africa’s rapidly growing media and entertainment market. With an existing footprint in 25 African countries and over eight million subscribers, the French group is now positioned to target 50–100 million subscribers across the continent.

MultiChoice, Africa’s largest pay-TV operator, adds more than 14.5 million subscribers from 50 sub-Saharan African countries to Canal+’s portfolio. Flagship platforms such as DStv, GOtv, and premium content offerings like SuperSport make the acquisition a valuable asset for Canal+.

Describing the deal as “transformative,” Canal+ CEO Maxime Saada stated: “This merger brings greater scale, increased exposure to high-growth markets, and significant opportunities for synergy.”

One of the key strategic advantages of the deal is the integration of Canal+’s strong French-language library with MultiChoice’s leading English and Portuguese programming, creating a multilingual media leader for African audiences.

The acquisition also delivers a timely capital boost for MultiChoice, enabling renewed investment in local productions, sports broadcasting, technological upgrades, and digital innovation.

To meet the Competition Tribunal’s requirements, Canal+ has pledged to invest approximately 26 billion rand over the next three years. These commitments include keeping MultiChoice’s headquarters in South Africa, increasing local content funding, and supporting homegrown creators.

In a joint statement, both companies reaffirmed: “Our focus will remain on strengthening South African entertainment and sports content, giving local creators a strong platform to succeed.”

Canal+ launched its takeover bid in 2023 with a mandatory offer of 125 rand per share, valuing MultiChoice at around $3 billion. With full control secured, the French conglomerate is now poised to reshape Africa’s pay-TV sector, unlocking new opportunities across the continent’s fast-growing markets.

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