French media conglomerate Canal+ has completed its acquisition of Africa’s largest pay-TV operator, MultiChoice Group, in a deal valued at $3 billion (about R55 billion). The takeover gives the French group full control of DStv and GOtv, marking one of the biggest shakeups in the African broadcast industry in recent years.
The deal received final approval from South Africa’s Competition Tribunal on Tuesday, July 23, after months of regulatory processes. Canal+, a subsidiary of French media group Vivendi, had already amassed a 45% stake in the African media giant before launching a formal buyout earlier this year. The remaining shares were acquired at R125 per share, following a mandatory offer triggered by the company’s growing ownership.
A New Media Powerhouse in Africa
With MultiChoice now fully under its control, Canal+ significantly strengthens its footprint across the African continent. The merger brings together its existing operations in Francophone Africa with MultiChoice’s dominance in Anglophone and Lusophone regions, creating a combined subscriber base of over 14 million households in more than 50 African countries.
For the French media, this is a strategic push to position itself as a global content force and an African entertainment heavyweight. For the African group, it means increased investment capacity and international backing to compete more aggressively with global streaming players like Netflix, Amazon Prime Video, and Disney+.
Conditions of the Deal
The Competition Tribunal’s approval came with several key conditions, mainly focused on public interest concerns. Among them:
- South African ownership compliance: MultiChoice will spin off its South African broadcasting license into a separate entity, which will be majority-owned by Historically Disadvantaged Persons (HDPs). This is to comply with local ownership laws that restrict foreign control of domestic broadcasting licenses.
- R26 billion investment commitment: Canal+ has committed to investing R26 billion (over $1.4 billion) in South Africa over the next three years. This includes funding for local content creation, job protection, SME support, and broader industry development.
- Retention of MultiChoice’s South African identity: The headquarters will remain in South Africa, and local jobs will be preserved.
The Competition Tribunal emphasised that these measures were essential to ensure the deal not only satisfied competition concerns but also advanced the country’s transformation goals in media and broadcasting.
What Happens Next?
The full implementation of the deal is expected to be completed by October 8, 2025. In the coming months, Canal+ and MultiChoice will begin integrating operations, streamlining backend systems, and expanding original content offerings across their platforms, including DStv, GOtv, and the revamped Showmax streaming service.
Canal+ has said the merger will help unlock economies of scale, drive more investment into African storytelling, and create better cross-border distribution opportunities for homegrown content.
Industry Implications
This acquisition is one of the largest media deals ever seen on the continent and signals a deeper consolidation in African broadcasting. It also sets up Canal+ as the most dominant pay-TV and streaming force on the continent, with a reach that spans rural and urban Africa, linear TV and digital streaming, sports, film, and news.
It remains to be seen how the deal will reshape competition in the streaming space. But one thing is clear: with the backing of a European media giant and a significant investment pledge, the merger is poised to redefine what local and international audiences can expect from African television.
