French media company Canal+ has taken full ownership of MultiChoice Group — the broadcaster behind DStv and GOtv — in a deal valued at around $3 billion (about 55 billion rand).
South Africa’s Competition Tribunal gave the final approval on Wednesday, July 23, allowing Canal+ to acquire the remaining 55 percent stake it didn’t already own.
The approval follows months of regulatory hurdles and negotiations, and the transaction is expected to close by October 8, 2025.
But the green light didn’t come without strings. The Tribunal placed conditions to safeguard local programming and ensure that South Africa’s media landscape remains locally anchored.
For Canal+, the acquisition opens the door wide to Africa’s fast-growing media market. The company already operates in 25 African countries and counts over 8 million subscribers. With this deal, it hopes to expand its reach to somewhere between 50 and 100 million viewers across the continent.
MultiChoice, based in South Africa, brings a massive footprint: over 14.5 million subscribers in 50 countries across sub-Saharan Africa. Its assets include major brands like DStv, GOtv, and the sports network SuperSport.
Maxime Saada, CEO of Canal+, called the Tribunal’s decision “the final stage in the South African competition process.”
“It clears the way for us to conclude the transaction in line with our previously communicated timeline,” he said.
He described the move as a “hugely positive step forward.”
“We’re bringing together two iconic media and entertainment companies… and creating a true champion for Africa,” Saada added. “I’m excited about the potential this transaction unlocks — for South African consumers, creative businesses, and the nation’s sporting ecosystem.”
The deal also comes with big financial implications. The hope is that fresh capital from Canal+ will fuel MultiChoice’s investments in original content, tech upgrades, and digital platforms.
Elias Masilela, Chairman of MultiChoice, said the offer from Canal+ signals strong international confidence in the company’s direction.
“This endorses MultiChoice’s 40-year track record and our continental growth strategy,” he said.
“It’s gratifying to note that foreign investors share our view that South Africa and Africa remain attractive growth markets.”
One major appeal of the merger is the chance to blend Canal+’s French-language programming with MultiChoice’s English and Portuguese channels. That mix could give the new group a much broader appeal across Africa’s multilingual audiences.
MultiChoice CEO Calvo Mawela called the announcement “a significant milestone.”
“It reflects the strength of our strategic vision,” he said, “and our ongoing commitment to uplifting the communities where we operate.”
Mawela added, “We’re looking forward to completing the transaction — and to start building something extraordinary: a global media and entertainment company with Africa at its heart.”
As part of its commitment to public interest conditions, Canal+ agreed to invest around 26 billion rand over the next three years. That funding will support local production, preserve MultiChoice’s headquarters in South Africa, and help retain jobs and creative talent in the country.
In a joint statement, the companies said they will continue supporting South African general entertainment and sports content.
“We will maintain funding… providing local content creators with a strong foundation for future success,” the statement read.
Canal+ started its takeover push in 2023 with a buyout offer of 125 rand per share. Now, with the final regulatory hurdle cleared, it’s positioned to reshape Africa’s pay-TV industry — and possibly dominate it.
