French media giant Canal+ has completed its acquisition of MultiChoice Group, Africa’s largest pay-TV broadcaster and the parent company of DStv and GOtv, in a landmark transaction valued at approximately $3 billion (55 billion rand). The deal, which gives Canal+ the remaining 55% stake it did not previously own, received formal approval from South Africa’s Competition Tribunal on Wednesday, July 23, 2025.
Following several months of negotiations, regulatory hurdles, and public scrutiny, the Tribunal’s ruling clears the way for the acquisition to be finalized by October 8, 2025. Although the Tribunal approved the deal, it attached several public interest conditions aimed at safeguarding local content and preserving South Africa’s media sovereignty.
Under the terms of the approval, Canal+ must commit to a 26 billion rand investment over the next three years. This includes maintaining MultiChoice’s headquarters in South Africa, strengthening local content creation, and continuing support for South African sports and general entertainment programming. The French company is also expected to preserve jobs and promote diversity in its operations across the continent.
MultiChoice, Africa’s dominant pay-TV provider, operates in 50 sub-Saharan African countries and serves more than 14.5 million subscribers through its flagship platforms—DStv and GOtv. The company also owns premium content assets like SuperSport, one of the most influential sports broadcasters on the continent. These offerings were a major factor in Canal+’s interest, positioning MultiChoice as a highly attractive acquisition with established reach.
“This deal is transformative,” said Canal+ CEO Maxime Saada. “The combined group will benefit from enhanced scale, greater exposure to high-growth markets and the ability to deliver meaningful synergies,”
The acquisition signals a bold strategic push by Canal+ into Africa’s rapidly expanding media and entertainment landscape. With a presence in 25 countries and more than eight million current subscribers, the company is now set to accelerate its growth, with ambitions to reach between 50 and 100 million viewers across the continent in the coming years.
The merger also opens the door for content integration on an unprecedented scale. While Canal+ brings deep expertise in French-language entertainment, MultiChoice leads in English and Portuguese content. The synergy is expected to create a multilingual media powerhouse capable of catering to Africa’s diverse audiences with a richer and more localized offering.
The acquisition provides a timely financial boost for MultiChoice. It is set to channel fresh capital into the South African broadcaster, supporting expanded investment in local content creation, technological enhancements, and digital advancement.
In a joint statement issued after the Tribunal’s decision, Canal+ and MultiChoice reaffirmed their commitment to fostering local talent and sustaining the country’s creative industries: “We will maintain funding for South African general entertainment and sports content, providing local content creators with a strong foundation for future success.”
Canal+ initiated the takeover process in 2023 by offering 125 rand per share in a mandatory buyout that valued MultiChoice at $3 billion. The offer was initially met with caution from regulators and local stakeholders concerned about foreign ownership and cultural sovereignty. However, the Tribunal’s conditional approval suggests confidence that the deal can support national development goals without compromising South African interests.
