In a landmark move set to redefine the African entertainment landscape, French media conglomerate Canal+ has successfully acquired South Africa-based MultiChoice Group in a $3 billion deal, securing full ownership of the continent’s leading pay-TV services, DStv and GOtv.
The long-anticipated acquisition received final clearance from South Africa’s Competition Tribunal on Wednesday, July 23, 2025, following extensive regulatory scrutiny and negotiations. The deal, valued at approximately 55 billion rand, is expected to close by October 8, 2025, pending final approval from the Independent Communications Authority of South Africa (ICASA).
Canal+, which previously held a 45.2% stake in MultiChoice, has steadily increased its investment since 2020, injecting over €1.2 billion ($1.3 billion) into the company before moving to acquire the remaining shares.
In a statement released through the Johannesburg Stock Exchange, Canal+ CEO Maxime Saada welcomed the decision, calling it a transformative step in the company’s African strategy.
“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 aligns with Canal+’s ambitions to solidify its footprint in Africa’s rapidly evolving media and entertainment sector, tapping into MultiChoice’s 40-year legacy and a subscriber base of nearly 50 million across the continent.
MultiChoice, originally spun off from Naspers in 2019, has been a dominant force in African broadcasting, renowned for its local programming, sports coverage, and entertainment offerings.
Elias Masilela, Chairman of MultiChoice, described the acquisition as an endorsement of the company’s long-term vision:
“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 comply with South African laws limiting foreign control of broadcasting licences to 20%, MultiChoice has created a new entity, LicenceCo, to independently manage its domestic broadcasting licence.
The deal was approved with conditions recommended by the Competition Commission, including Canal+’s commitment to invest in local content production and promote South African creative works in international markets.
This acquisition marks a pivotal moment in African media history, potentially ushering in a new era of content development, distribution, and cross-continental collaboration.