French Media Giant Canal+ Acquires MultiChoice in $3bn Deal

French media conglomerate Canal+ has completed its long-anticipated $3 billion acquisition of MultiChoice Group, the South African-based pay-TV giant behind DStv and GOtv.

The deal, worth around 55 billion rand, was officially cleared by South Africa’s Competition Tribunal on Wednesday, July 23, 2025, following months of regulatory review. Canal+, which already held a 45.2% stake, now takes full ownership after steadily investing over €1.2 billion ($1.3 billion) in the company since 2020.

The transaction is expected to be finalized by October 8, 2025, pending final approval from the Independent Communications Authority of South Africa (ICASA).

In a statement to the Johannesburg Stock Exchange, Canal+ CEO Maxime Saada welcomed the tribunal’s decision, saying:

“The approval by South Africa’s Competition Tribunal marks the final stage in the South African competition process and clears the way for us to conclude the transaction in line with our previously communicated timeline. This acquisition represents a significant step in expanding our presence across Africa, particularly in English-speaking markets.”

The acquisition strengthens Canal+’s grip on Africa’s booming media sector, giving it access to MultiChoice’s vast subscriber base of nearly 50 million across the continent. MultiChoice, which separated from Naspers in 2019, is known for its rich catalogue of local content, sports broadcasting, and cultural programming.

MultiChoice Chairman Elias Masilela praised the acquisition, saying:

“The offer from Canal+ endorses MultiChoice’s 40-year track record and our compelling continental growth strategy. It is gratifying to note that foreign investors share our view that South Africa and Africa remain attractive growth markets.”

To meet local ownership regulations—which cap foreign ownership of broadcasting licences at 20%—MultiChoice has created a new company, LicenceCo, to hold its domestic broadcasting licence independently.

The Competition Commission had previously recommended the deal’s approval, contingent on Canal+’s commitment to support local content development and promote South African productions in international markets.

The deal marks a significant shift in Africa’s broadcasting landscape, with Canal+ positioning itself as a leading player in both francophone and anglophone markets across the continent.

By MSN