Business
Canal+ completes $3bn takeover of MultiChoice, secures full control of DStv, GOtv
French media giant Canal+ has finalized a landmark $3 billion (approximately 55 billion rand) acquisition of MultiChoice Group, the parent company of DStv and GOtv. The deal, which grants Canal+ the remaining 55% stake it did not previously own, received approval from South Africa’s Competition Tribunal on Wednesday, July 23.
The Tribunal’s decision, following months of intense negotiations and regulatory scrutiny, clears the path for the transaction to be fully completed by October 8, 2025.
However, the approval came with a set of public interest conditions aimed at protecting South Africa’s local content industry and preserving media sovereignty.
For Canal+, the acquisition marks a significant strategic push into Africa’s fast-growing entertainment and broadcasting market. Already present in 25 African countries with over eight million subscribers, the French conglomerate now aims to accelerate its growth, targeting between 50 and 100 million subscribers across the continent in the coming years.
MultiChoice, Africa’s leading pay-TV provider, currently serves more than 14.5 million subscribers across 50 sub-Saharan African countries. With platforms such as DStv, GOtv, and premium content brands like SuperSport, the company’s scale and market dominance made it a prime target for Canal+’s expansion plans.
Calling the acquisition “transformative,” Canal+ CEO Maxime Saada said: “The combined group will benefit from enhanced scale, increased exposure to high-growth markets, and the ability to create meaningful synergies.”
The merger is expected to leverage Canal+’s strong French-language catalogue alongside MultiChoice’s English and Portuguese content, creating a multilingual entertainment powerhouse with unparalleled reach across Africa.
For MultiChoice, the deal represents a timely financial boost. The influx of capital is expected to drive investment in local content production, sports broadcasting, cutting-edge technology, and digital platforms.
As part of the conditional approval, Canal+ has pledged to invest about 26 billion rand over the next three years in initiatives aligned with South Africa’s public interest priorities. These include maintaining MultiChoice’s headquarters in South Africa, safeguarding jobs, supporting local content creators, and continuing to invest heavily in sports and entertainment programming.
In a joint statement, Canal+ and MultiChoice reiterated their commitment to strengthening the local media industry: “We will maintain robust funding for South African general entertainment and sports content, ensuring local creators have the resources to thrive.”
Canal+ first launched its takeover bid in 2023, offering 125 rand per share, valuing MultiChoice at approximately $3 billion. With full ownership now secured, the French conglomerate is set to reshape Africa’s pay-TV landscape, harnessing the continent’s vast growth potential and reshaping the competitive dynamics of the industry.
