French media powerhouse Canal+ is making a bold leap toward continental dominance in Africa’s fast-growing entertainment sector, securing full control of MultiChoice Group in a landmark $3 billion deal.
The acquisition, which positions Canal+ to significantly expand its reach across English-speaking African markets, was approved by South Africa’s Competition Tribunal on Wednesday, July 23, 2025.
Having steadily grown its presence in Africa over the years, Canal+ had already acquired a 45.2% stake in MultiChoice prior to the deal.
The company has now moved decisively to purchase the remaining shares, culminating in a transaction worth approximately 55 billion rand after investing €1.2 billion ($1.3 billion) since 2020.
The transaction is expected to be finalized by October 8, 2025, pending a final nod from the Independent Communications Authority of South Africa (ICASA).
In an official statement released via the Johannesburg Stock Exchange, Canal+ CEO Maxime Saada hailed the approval as a milestone moment.
“The approval by South Africa’s Competition Tribunal marks the final stage in the South African competition process and clears the way for us to conclude the transaction in line with our previously communicated timeline.
“This acquisition represents a significant step in expanding our presence across Africa, particularly in English-speaking markets.”
The deal grants Canal+ full control of DStv and GOtv, two of the continent’s most popular pay-TV platforms, and access to MultiChoice’s extensive subscriber base, which spans nearly 50 million users across Africa.
Founded as part of the Naspers group and later spun off in 2019, MultiChoice has long been a leader in Africa’s pay-TV space. It has built a strong reputation through its blend of local programming and exclusive sports content.
The acquisition builds on this legacy while giving Canal+ a powerful launchpad for future expansion.
MultiChoice Chairman Elias Masilela described the deal as a major endorsement of the company’s direction and Africa’s broader economic potential.
“The offer from Canal+ endorses MultiChoice’s 40-year track record and our compelling continental growth strategy. It is gratifying to note that foreign investors share our view that South Africa and Africa remain attractive growth markets,” he said.
In line with South African broadcasting regulations that cap foreign ownership at 20%, MultiChoice has created a new entity — LicenceCo — to independently hold its local broadcasting licence.
The Competition Commission had previously recommended approval of the deal, with conditions requiring Canal+ to support local audiovisual content and promote South African productions internationally.
As the African media landscape evolves, the Canal+-MultiChoice union could set a new benchmark for cross-continental collaboration in content creation and digital broadcasting.