Canal+ Acquires Full Control of MultiChoice in $3 Billion Deal

French media giant Canal+ has secured full ownership of MultiChoice Group, the parent company of DStv and GOtv, following a $3 billion (approximately 55 billion rand) acquisition. The deal was officially approved by South Africa’s Competition Tribunal on Wednesday, July 23, marking the conclusion of months of negotiations and regulatory review.

Canal+, which previously held a 45% stake in MultiChoice, now takes full control of Africa’s largest pay-TV broadcaster. The Tribunal’s approval comes with several public interest conditions designed to protect local content production and uphold South Africa’s media sovereignty. The transaction is expected to be finalized by October 8, 2025.

This acquisition marks a major strategic move for Canal+, which already operates in 25 African countries and serves over eight million subscribers. With MultiChoice’s 14.5 million subscribers across 50 sub-Saharan nations and popular platforms like DStv, GOtv, and SuperSport, Canal+ is positioned to expand its footprint on the continent and aims to reach between 50 to 100 million subscribers in the coming years.

Canal+ CEO Maxime Saada described the deal as transformative, saying the combined group will benefit from greater scale, increased exposure to high-growth markets, and improved operational synergies. A key advantage of the merger is the integration of Canal+’s French-language content with MultiChoice’s English and Portuguese offerings, enabling the group to serve Africa’s diverse audiences more effectively.

The acquisition also brings a significant financial boost to MultiChoice, opening up new opportunities for investment in local content, technology, and digital innovation. As part of the Tribunal’s conditions, Canal+ has committed to invest around 26 billion rand over the next three years in initiatives aligned with South Africa’s public interest priorities. These include retaining MultiChoice’s headquarters in South Africa, supporting local sports and entertainment content, and promoting the growth of local content creators.

In a joint statement, the two companies reiterated their dedication to the South African media landscape, pledging continued funding for local programming and sports broadcasting. Canal+ initiated its takeover in 2023 with a mandatory offer of 125 rand per share, valuing MultiChoice at \$3 billion. With the acquisition now complete, Canal+ is set to redefine the future of African pay-TV, leveraging its expanded platform to unlock new growth across the continent.