French media conglomerate Canal+ has secured full ownership of MultiChoice Group, the parent company of DStv and GOtv, in a deal valued at $3 billion (approximately 55 billion rand).
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The acquisition was officially approved on Wednesday, July 23, by South Africa’s Competition Tribunal, granting Canal+ the remaining 55% stake it did not previously own. The decision comes after months of negotiations and regulatory scrutiny. The deal is expected to be fully finalized by October 8, 2025.
While granting its approval, the Tribunal imposed a series of public interest conditions aimed at safeguarding South Africa’s local content industry and ensuring continued media sovereignty. Key among these conditions is a commitment by Canal+ to invest 26 billion rand over the next three years in content production, sports broadcasting, and support for local creators.
For Canal+, the acquisition marks a strategic expansion into Africa’s high-growth media market. The French group already operates in 25 African countries, serving over 8 million subscribers. With MultiChoice’s base of 14.5 million subscribers across 50 sub-Saharan African nations, the combined entity is poised to accelerate growth, with ambitions to reach 50 to 100 million subscribers continent-wide.
MultiChoice is widely recognized as Africa’s largest pay-TV broadcaster, with flagship platforms like DStv, GOtv, and premium content hubs such as SuperSport. This makes it a prized asset for Canal+, which aims to integrate its French-language content with MultiChoice’s English and Portuguese programming—creating a multilingual media powerhouse tailored for Africa’s diverse audience.
“This deal is transformative,” said Maxime Saada, CEO of Canal+. “The combined group will benefit from enhanced scale, greater exposure to high-growth markets, and the ability to deliver meaningful synergies.”
Beyond scale and content diversification, the deal also provides a financial lifeline for MultiChoice, enabling investments in digital innovation, technology upgrades, and locally-produced programming.
Canal+ initiated its takeover in 2023 with a mandatory offer of 125 rand per share, valuing MultiChoice at around $3 billion. With full ownership now secured, the company is positioned to redefine Africa’s pay-TV industry, offering a richer, more integrated content experience.
In a joint statement, Canal+ and MultiChoice pledged ongoing support for the South African media ecosystem:
“We will maintain funding for South African general entertainment and sports content, providing local content creators with a strong foundation for future success.”
As Canal+ prepares to merge operations and expand its footprint, industry analysts see the deal as a defining moment for Africa’s broadcast sector—ushering in a new era of competition, innovation, and continental media collaboration.
