French media conglomerate Canal+ has officially acquired full ownership of South African entertainment giant MultiChoice Group in a landmark \$3 billion deal, granting it complete control over major pay-TV platforms DStv and GOtv.
The South African Competition Tribunal approved the acquisition on Wednesday, July 23, 2025, following months of regulatory review and negotiations. The deal, valued at around 55 billion rand, had been in the works since Canal+ increased its stake in MultiChoice to 45.2% after investing €1.2 billion (\$1.3 billion) since 2020.
The acquisition is scheduled to be completed by October 8, 2025, pending final consent from the Independent Communications Authority of South Africa.
In a statement issued via the Johannesburg Stock Exchange, Canal+ CEO Maxime Saada described the approval as a crucial milestone, adding, “This acquisition significantly strengthens our presence in Africa, especially in English-speaking regions.”
The merger reinforces Canal+’s strategy to deepen its reach in Africa’s rapidly expanding media market, tapping into MultiChoice’s four-decade-long history and nearly 50 million subscribers across the continent.
MultiChoice, which became independent from Naspers in 2019, has led Africa’s pay-TV space with its strong offering of local entertainment and sports content.
Chairman of MultiChoice, Elias Masilela, called the acquisition a strong endorsement of the company’s long-term vision. “Canal+’s offer validates our 40-year legacy and Africa-focused growth strategy. It’s a positive signal for foreign investment in the region,” he said.
To meet South Africa’s broadcasting laws that limit foreign control to 20%, MultiChoice has set up a separate entity, LicenceCo, to manage its local broadcasting licence.
The country’s Competition Commission supported the acquisition with specific conditions, including investment in local content creation and the promotion of South African programming in international markets.
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