Canal+ Secures Full Control of MultiChoice in $3billion Acquisition

French media powerhouse Canal+ has received final approval from South Africa’s Competition Tribunal to acquire the remaining 55 percent stake in MultiChoice Group, the parent company of DStv and GOtv, in a deal valued at approximately $3 billion (about 55 billion rand). The tribunal rendered its decision on July 23, marking a crucial step towards completion, expected by October 8, 2025, pending the Independent Communications Authority of South Africa’s sign‑off .

The acquisition was approved on the condition that Canal+ implement a public‑interest package valued at around 26 billion rand ($1.5 billion) across three years. Commitments include support for Historically Disadvantaged Persons (HDPs), Small, Micro and Medium Enterprises (SMMEs), and the preservation of local entertainment and sports content. Additionally, to comply with South African legislation that restricts foreign ownership of domestic broadcast licenses to a maximum of 20 percent, MultiChoice will establish a new entity named LicenceCo. This entity will hold the South African broadcast license, with majority ownership transferred to HDPs.

Canal+ had gradually increased its shareholding in MultiChoice over time and entered into a mandatory offer of 125 rand per share, valuing the company at about 55 billion rand ($3 billion).

Maxime Saada, Canal+’s CEO, commented that the combined group would “benefit from enhanced scale, greater exposure to high‑growth markets and the ability to deliver meaningful synergies." While Canal+ already operates in French‑speaking regions of Africa, full acquisition of MultiChoice will significantly bolster its presence in English‑ and Portuguese‑speaking markets across sub‑Saharan Africa.

For MultiChoice, the infusion of capital will enable further investment in local content production, sports broadcasting, and technological innovation. The multi‑billion rand public‑interest package is expected to reinforce production of home‑grown content, retain the company’s Johannesburg headquarters, protect jobs, and foster participation of HDPs and SMEs in the audiovisual sector.

Pending final approval from the telecommunications regulator ICASA, Canal+ is positioned to finalize this deal by October 8, 2025. The acquisition marks a significant consolidation in African media and positions the combined entity to more effectively compete with global streaming giants.

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