French media giant Canal+ has finalised the acquisition of MultiChoice Group, the parent company of DStv and GOtv, in a landmark $3 billion deal.
The company now holds 100 percent ownership, having secured the remaining 55 percent stake it didn’t previously own.
South Africa’s Competition Tribunal approved the deal on Wednesday, July 23, after months of negotiations and regulatory scrutiny. The deal is expected to close by October 8, 2025.
Although the Tribunal gave its approval, it attached several public interest conditions to safeguard South Africa’s media independence and protect local content.
Canal+ is required to invest R26 billion over the next three years toward initiatives that include maintaining MultiChoice’s headquarters in South Africa and supporting local production and sports broadcasting.
For Canal+, the acquisition marks a significant push into Africa’s fast-growing media and entertainment market.
Already present in 25 African countries with more than eight million subscribers, the company aims to expand that number to as many as 100 million.
MultiChoice, the continent’s biggest pay-TV operator, brings over 14.5 million subscribers across 50 sub-Saharan African countries.
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Its platforms, including DStv, GOtv, and SuperSport, give Canal+ access to valuable content and a broad audience.
Describing the acquisition as a game-changer, Canal+ CEO Maxime Saada said, “The combined group will benefit from enhanced scale, greater exposure to high-growth markets and the ability to deliver meaningful synergies.”
One major advantage of the merger is the opportunity to blend Canal+’s French-language content with MultiChoice’s strong English and Portuguese offerings, creating a media powerhouse that can cater to Africa’s diverse audiences.
Beyond the strategic value, the deal also promises new life for MultiChoice, with the capital injection expected to boost investment in local content, technology, and digital platforms.
In a joint statement, both companies said: “We will maintain funding for South African general entertainment and sports content, providing local content creators with a strong foundation for future success.”
Canal+ initiated its takeover bid in 2023 with a mandatory buyout offer of R125 per share, valuing MultiChoice at roughly $3 billion.
Now with full control, the French conglomerate is set to reshape the African pay-TV industry and expand its reach across the continent.