Canal+ Completes $3 Billion Acquisition of MultiChoice to Dominate Africa’s Pay-TV Market
Johannesburg, South Africa – July 24, 2025 | By Daniel Okafor for SpringnewsNG Media Limited
In a landmark move set to reshape Africa’s media landscape, French media conglomerate Canal+ has finalized its long-anticipated $3 billion acquisition of MultiChoice Group, giving it full ownership of the continent’s top pay-TV providers DStv and GOtv.
The acquisition, officially valued at 55 billion rand, was approved on Wednesday, July 23, 2025, by South Africa’s Competition Tribunal, following an extensive regulatory review process. With this approval, Canal+ now owns 100% of MultiChoice, after previously holding a 45.2% stake.
Final Approval Paves Way for Full Merger by October
The final step in the acquisition process awaits clearance from the Independent Communications Authority of South Africa (ICASA). Once approved, the merger is expected to be fully completed by October 8, 2025.
Canal+ CEO Maxime Saada, in a statement released via the Johannesburg Stock Exchange, praised the Competition Tribunal’s approval and reaffirmed the company’s commitment to growth in Africa.
“This acquisition represents a major step in expanding our footprint across Africa, especially in English-speaking regions. The approval from South Africa’s Competition Tribunal brings us closer to realizing our goal of transforming the continent’s media sector,” Saada stated.
Strategic Growth into Africa’s Expanding Media Market
Canal+ has steadily increased its investment in MultiChoice since 2020, committing over €1.2 billion ($1.3 billion) in that time. The French giant now plans to leverage MultiChoice’s extensive subscriber base of nearly 50 million across Africa and its dominant position in both local and international broadcasting.
Founded in 2019 as a spin-off from Naspers, MultiChoice has become Africa’s leading pay-TV provider, thanks to its rich catalog of local entertainment, sports, and premium programming.
MultiChoice Chairman Elias Masilela hailed the acquisition as a validation of the company’s long-term strategy.
“The Canal+ offer is a strong endorsement of MultiChoice’s 40-year legacy and ambitious pan-African growth strategy. It’s a signal that international investors still see Africa, and particularly South Africa, as a dynamic market for media expansion.”
Regulatory Safeguards for Local Broadcasting Integrity
To comply with South African regulations limiting foreign ownership of broadcasting licenses to 20%, MultiChoice has created a new entity, LicenceCo, which will independently manage its South African broadcast licenses.
Additionally, the Competition Commission had earlier approved the merger with conditions, including Canal+’s commitment to investing in local audiovisual content, promoting South African productions globally, and boosting employment within the sector.
Industry Impact and Future Outlook
This merger solidifies Canal+ as the dominant force in Africa’s pay-TV industry, combining European capital and expertise with MultiChoice’s deep African market penetration. Industry analysts predict increased competition, content innovation, and deeper localization of programming across the continent.
As Canal+ deepens its integration into African markets, the deal is expected to unlock new opportunities for content creators, broadcasters, and advertisers looking to tap into one of the world’s fastest-growing media audiences.
Stay with SpringnewsNG Media Limited for ongoing updates on Canal+’s expansion and the future of Africa’s television landscape.
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