French media giant Canal+ has completed a $3 billion acquisition of South Africa’s MultiChoice Group, taking full control of leading pay-TV services DStv and GOtv in a deal poised to transform the African entertainment industry.
The long-anticipated takeover was officially approved by South Africa’s Competition Tribunal on Wednesday, July 23, 2025, clearing the way for the acquisition to proceed.
Following months of regulatory review and negotiations, the deal worth around 55 billion rand was officially confirmed.
Having already owned a 45.2% stake in MultiChoice, Canal+ pursued full ownership by acquiring the remaining shares, following a €1.2 billion ($1.3 billion) investment made since 2020.
The deal is expected to be finalized by October 8, 2025, pending final approval from the Independent Communications Authority of South Africa.
In an official statement issued through the Johannesburg Stock Exchange on Wednesday, Canal+ CEO Maxime Saada shared his optimism regarding the potential of the merger.
He said, “The approval by South Africa’s Competition Tribunal marks the final stage in the South African competition process and clears the way for us to conclude the transaction in line with our previously communicated timeline.
“This acquisition which represents a significant step in expanding our presence across Africa, particularly in English-speaking markets.”
The move comes as Canal+ seeks to bolster its foothold in the continent’s blooming media sector, leveraging MultiChoice’s 40-year legacy and its extensive subscriber base of nearly 50 million across Africa.
MultiChoice, which was derived from Naspers in 2019, which has been a leading player in the pay-TV market, offering a wide array of local content and sports programming through DStv and GOtv.
MultiChoice Chairman Elias Masilela praised the deal as a strong endorsement of the company’s growth strategy.
“The offer from Canal+ endorses MultiChoice’s 40-year track record and our compelling continental growth strategy. It is gratifying to note that foreign investors share our view that South Africa and Africa remain attractive growth markets,” Masilela stated.
In line with South African regulations regulating foreign ownership of broadcasting licences at 20%, MultiChoice has set up a separate entity, LicenceCo, to independently manage its domestic broadcasting licence.
The Competition Commission had previously endorsed the deal, provided certain conditions were met, such as investing in local audiovisual content and promoting South African productions on a global stage.
