By Atoyebi Nike
French media powerhouse Canal+ has finalized the acquisition of South Africa’s MultiChoice Group in a $3 billion deal, securing full ownership of pay-TV giants DStv and GOtv.
The deal, approved by South Africa’s Competition Tribunal on Wednesday, July 23, 2025, marks the culmination of months of regulatory review and negotiations. Canal+, which already held a 45.2% stake, is acquiring the remaining shares—bringing the total value of the transaction to 55 billion rand.
The merger is set to close by October 8, pending final clearance from the Independent Communications Authority of South Africa.
Canal+ CEO Maxime Saada, in a statement to the Johannesburg Stock Exchange, described the approval as a critical milestone. “This acquisition represents a significant step in expanding our presence across Africa, particularly in English-speaking markets,” he said.
The move strengthens Canal+’s footprint in Africa’s rapidly growing media industry, adding MultiChoice’s nearly 50 million subscribers across the continent. MultiChoice, spun off from Naspers in 2019, is widely known for its extensive local content and sports offerings.
MultiChoice Chairman Elias Masilela called the deal a strong endorsement of the company’s continental strategy. “It is gratifying to note that foreign investors share our view that South Africa and Africa remain attractive growth markets,” he said.
To comply with South African broadcasting laws that cap foreign ownership at 20%, MultiChoice has created a new entity, LicenceCo, to independently hold its domestic broadcast licence.
The Competition Commission approved the deal with conditions, including commitments to invest in local content and promote South African productions in international markets.
