Canal+ Acquires Full Ownership of MultiChoice in $3 Billion Deal
By Ekanem Asuquo
In a seismic shift for Africa’s media landscape, French media giant Canal+ has acquired full ownership of MultiChoice Group, the parent company of DStv and GOtv, in a landmark $3 billion deal.
The South African Competition Tribunal gave its final approval on July 23, 2025, allowing Canal+ to purchase the remaining 55% stake in MultiChoice it did not previously own. The transaction, following months of intense negotiations and regulatory scrutiny, is expected to be finalized by October 8, 2025.
The Tribunal’s approval comes with several public interest conditions. Canal+ is required to uphold commitments to local content development, sports broadcasting, job retention, and the maintenance of MultiChoice’s headquarters in South Africa, measures designed to preserve the country’s media sovereignty and cultural identity.
This acquisition marks a major strategic milestone for Canal+, which already has a presence in 25 African countries with over 8 million subscribers. By integrating MultiChoice’s extensive user base of 14.5 million across 50 sub-Saharan African nations, Canal+ is poised to become the continent’s leading pay-TV powerhouse.
Canal+ CEO Maxime Saada hailed the merger as “transformative,” noting its potential to enhance content diversity, unlock synergies, and expand reach across Africa’s multilingual markets.
“This transaction significantly enhances our scale and exposure to high-growth markets,” Saada said. “The combined group will be better positioned to serve Africa’s diverse audiences with rich content in English, French, and Portuguese.”
MultiChoice, one of Africa’s leading broadcasters, is renowned for its strong portfolio of local content and sports programming, including its flagship brand SuperSport. The acquisition is expected to inject new capital into the company, enabling accelerated investment in technology, digital innovation, and original African storytelling.
As part of its commitment, Canal+ has pledged to invest R26 billion over the next three years to meet its public interest obligations. This includes sustained funding for South African general entertainment and greater support for local content producers and creatives.
In a joint statement, both companies reassured stakeholders of their dedication to strengthening the African media ecosystem:
“We remain committed to promoting and investing in local talent, stories, and content that resonate with African audiences.”
The road to the acquisition began in 2023 when Canal+ launched a mandatory buyout offer of R125 per share, valuing MultiChoice at approximately $3 billion. With regulatory clearance now secured, analysts predict the deal will reshape the continent’s broadcasting future and intensify competition in Africa’s fast-evolving media sector.
