French media conglomerate Canal+ has completed the full acquisition of MultiChoice Group, the parent company of DStv and GOtv, in a landmark $3 billion (approximately 55 billion rand) deal. The transaction, which secures Canal+ the remaining 55% stake it did not previously own, received formal approval from South Africa’s Competition Tribunal on Wednesday, July 23.
The green light follows months of negotiations and regulatory scrutiny and sets the stage for the deal to be finalized by October 8, 2025. While approved, the Tribunal imposed a series of public interest conditions aimed at safeguarding local content and preserving the country’s media independence.
For Canal+, the acquisition marks a major strategic move into Africa’s rapidly expanding media and entertainment market. The French broadcaster already operates in 25 African countries with over eight million subscribers and now plans to grow its reach to between 50 and 100 million subscribers across the continent.
MultiChoice, Africa’s largest pay-TV operator, currently boasts more than 14.5 million subscribers across 50 sub-Saharan African nations. Its popular platforms, DStv and GOtv, along with premium content brands like SuperSport, made it a highly attractive target for Canal+.
Calling the acquisition “transformational,” Canal+ CEO Maxime Saada said, “The combined group will gain scale, access to fast-growing markets, and the ability to unlock valuable synergies.”
A key advantage of the merger is the integration of Canal+’s extensive French-language content with MultiChoice’s dominant English and Portuguese offerings—forming a multilingual media powerhouse capable of catering to Africa’s diverse audiences.
The deal also provides a financial lift for MultiChoice, which is expected to benefit from fresh capital investment to enhance local content production, digital innovation, and technological upgrades.
As part of the Competition Tribunal’s conditions, Canal+ has pledged to invest approximately 26 billion rand over the next three years in line with South Africa’s public interest priorities. These include maintaining MultiChoice’s headquarters in the country, investing in local programming and sports coverage, and supporting homegrown content creators.
