French media giant Canal+ finalises $3bn acquisition of MultiChoice, gaining full control of DStv and GOtv to boost its African media dominance

French media conglomerate Canal+ has completed its long-anticipated takeover of MultiChoice Group, the South African pay-TV powerhouse behind DStv and GOtv, in a landmark $3 billion acquisition that is poised to reshape the African entertainment landscape.

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The South African Competition Tribunal approved the deal on Wednesday, July 23, 2025, clearing the way for the transaction to close by October 8, pending final regulatory approval from the Independent Communications Authority of South Africa (ICASA).

Canal+, which had steadily increased its stake to 45.2%, moved to acquire the remaining shares after investing €1.2 billion ($1.3 billion) since 2020.

The final deal, worth approximately 55 billion rand, grants Canal+ full control of MultiChoice’s extensive network and nearly 50 million subscribers across Africa.

“This acquisition represents a significant step in expanding our presence across Africa, particularly in English-speaking markets,” said Maxime Saada, CEO of Canal+, in a statement published via the Johannesburg Stock Exchange.

He described the Tribunal’s approval as “the final stage in the South African competition process,” signalling a new chapter for the European broadcaster on the continent.

The move is part of Canal+’s broader strategy to deepen its reach into Africa’s rapidly growing media and streaming industry, leveraging MultiChoice’s four-decade leadership in local programming, sports, and entertainment.

MultiChoice Chairman Elias Masilela described the takeover as “a vote of confidence in the company’s continental growth vision.”

“The offer from Canal+ endorses MultiChoice’s 40-year track record and our compelling strategy across Africa. It’s gratifying to see international investors recognising Africa’s long-term potential,” he stated.

To comply with South Africa’s regulatory cap on foreign media ownership—capped at 20%—MultiChoice has created a new entity called LicenceCo, which will independently manage its local broadcasting licence.

The South African Competition Commission had earlier recommended conditional approval of the transaction. Among the conditions were commitments to:

• Continue investing in local audiovisual content
• Promote South African productions in international markets
• Safeguard jobs and ensure editorial independence

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These conditions are designed to protect South African cultural interests and ensure that Canal+ sustains the growth and diversity that MultiChoice has nurtured over the years.