French media conglomerate Canal+ has secured full ownership of MultiChoice, the African pay-TV giant behind DStv and GOtv, after South Africa’s Competition Tribunal granted conditional approval for the landmark deal. The acquisition, valued at approximately $3 billion (about Sh245 billion or 55 billion rand), marks a significant consolidation in the African media industry and follows several months of intense negotiations and regulatory review.
Under the terms of the agreement, Canal+ will acquire the remaining shares of MultiChoice that it did not previously own, having already held a stake of over 45% in the group. The buyout will see Canal+ pay 125 rand per share to take 100% control of MultiChoice, which boasts more than 14.5 million subscribers in 50 sub-Saharan African countries and operates flagship platforms including DStv and GOtv.
The deal carries a robust package of conditions designed to protect public interest in South Africa. These include:
- A commitment to invest approximately 26 billion rand over the next three years in South Africa, focusing on local content production, sports broadcasting, and support for the country’s creative sector.
- An undertaking to retain MultiChoice’s headquarters within South Africa.
- Legally binding guarantees on job security, with no retrenchments for at least three years following the merger.
- Measures to maintain and grow local ownership and participation, particularly for businesses controlled by historically disadvantaged persons and small to medium enterprises.
Both Canal+ and MultiChoice’s leadership hailed the approval as a transformative milestone for the continent’s media landscape. Canal+ CEO Maxime Saada highlighted the benefits of enhanced scale, increased exposure to high-growth African markets, and the ability to realize meaningful operational synergies. MultiChoice Group CEO Calvo Mawela described the merger as a major step forward that will boost investment in local content and innovation.
The Competition Tribunal’s conditional approval is the final regulatory hurdle in South Africa, paving the way for Canal+ to officially conclude the acquisition by October 8, 2025. The integration of Canal+’s French-language content with MultiChoice’s dominant English and Portuguese programming is expected to position the combined company as a multilingual market leader serving diverse audiences across Africa.
This acquisition not only elevates Canal+ to a commanding presence across the continent but also promises significant long-term investment in Africa’s cultural and creative sectors, reinforcing the region’s status as a global hub for media innovation and entertainment
