French media giant Canal+ has completed a landmark acquisition of South Africa’s MultiChoice Group in a deal worth $3 billion (≈55 billion rand), gaining full control of DStv and GOtv.
The South African Competition Tribunal approved the takeover on July 23, 2025, after months of scrutiny and negotiations.
Deal structure and timeline
Canal+, which already owned 45.2% of MultiChoice, moved to acquire the remaining shares after investing €1.2 billion (\$1.3 billion) since 2020.
The transaction is expected to close by October 8, 2025, pending final clearance from the Independent Communications Authority of South Africa.
Statements from stakeholders
Canal+ CEO Maxime Saada hailed the approval as a major milestone that strengthens the group’s footprint across Africa, especially in English‑speaking markets.
MultiChoice Chairman Elias Masilela described the deal as an endorsement of MultiChoice’s 40‑year legacy and its growth strategy across the continent.
Regulatory conditions
To meet South African laws restricting foreign control of broadcasting licences to 20%, MultiChoice has created a new entity called LicenceCo to hold its domestic licence.
The Competition Commission attached conditions to the approval, including commitments to invest in local audiovisual content and promote South African productions in new markets.
Impact on African media
With nearly 50 million subscribers across Africa, MultiChoice has been a dominant force in pay‑TV, offering rich local content and sports programming.
The acquisition positions Canal+ to deepen its influence in Africa’s rapidly growing media sector and expand opportunities for content creators across the continent.
