By Abiola Olawale
A French media conglomerate, Canal+ has finalized a $3 billion acquisition of MultiChoice Group, gaining full control of leading pay-TV platforms DStv and GOtv.
The deal was approved by South Africa’s Competition Tribunal on July 23, 2025.
Canal+, a subsidiary of Vivendi SE, secured the remaining 55% stake in MultiChoice it did not already own, following a mandatory buyout offer launched in 2023 at 125 rand per share.
The transaction, set to close by October 8, 2025, pending final approval from the Independent Communications Authority of South Africa, integrates MultiChoice’s 14.5 million subscribers across 50 sub-Saharan African countries with Canal+’s existing eight million subscribers in 25 African markets.
In an official statement released via the Johannesburg Stock Exchange on Wednesday, Canal+ CEO, Maxime Saada expressed optimism about the merger’s potential.
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 comes as Canal+ seeks to bolster its foothold in the continent’s blooming media sector, leveraging MultiChoice’s 40-year legacy and its extensive subscriber base of nearly 50 million across Africa.
MultiChoice, which was spun off from Naspers in 2019, has been a dominant player in the pay-TV market, offering a wide array of local content and sports programming through DStv and GOtv.
MultiChoice Chairman Elias Masilela hailed the deal as a vote of confidence in the company’s growth strategy.
“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 comply with South African regulations limiting foreign ownership of broadcasting licences to 20%, MultiChoice has established a new entity, dubbed LicenceCo, to hold its domestic broadcasting licence independently.
