French media powerhouse Canal+ has finalized the acquisition of South Africa-based MultiChoice Group in a $3 billion transaction, securing complete ownership of the continent’s leading pay-TV platforms, DStv and GOtv.
The acquisition received final clearance from South Africa’s Competition Tribunal on Wednesday, July 23, 2025, following months of intense regulatory scrutiny and anticipation.
Valued at roughly 55 billion rand, the deal was made official after prolonged negotiations.
Canal+, which previously held a 45.2% stake in MultiChoice, initiated the move to acquire the remaining shares after committing €1.2 billion ($1.3 billion) in investments since 2020.
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The transaction is expected to be finalized by October 8, 2025, pending a final nod from the Independent Communications Authority of South Africa.
In a statement issued via the Johannesburg Stock Exchange on Wednesday, Canal+ CEO Maxime Saada expressed optimism about the deal’s impact and direction.
He said, “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 move is a strategic push by Canal+ to deepen its influence in Africa’s fast-growing media landscape by tapping into MultiChoice’s four-decade legacy and vast subscriber base of nearly 50 million.
Spun off from Naspers in 2019, MultiChoice has long held a dominant position in Africa’s pay-TV market, delivering a wide spectrum of local programming and sports content via DStv and GOtv.
MultiChoice Chairman Elias Masilela welcomed the deal as an endorsement of the company’s growth vision.
“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,” Masilela stated.
To align with South Africa’s regulatory framework—which limits foreign ownership of broadcasting licences to 20%—MultiChoice has created a new subsidiary, LicenceCo, which will independently manage its domestic broadcasting licence.
Platforms Africa
