French media powerhouse Canal+ has finalized a $3 billion acquisition of South Africa-based MultiChoice Group, taking full control of leading pay-TV brands DStv and GOtv in a move poised to reshape Africa’s broadcasting landscape.
The South African Competition Tribunal approved the deal on Wednesday, July 23, 2025, clearing the final regulatory hurdle for the long-anticipated takeover.
With this acquisition, Canal+—which previously held a 45.2% stake—now owns 100% of MultiChoice, marking a major milestone in its strategy to expand across English-speaking markets in Africa.
Canal+ CEO Maxime Saada described the move as “a significant step” in strengthening the company’s presence across the continent, noting that the transaction remains on track to close fully by October 8, pending approval from the country’s communications authority.
MultiChoice, originally spun off from Naspers in 2019, boasts nearly 50 million subscribers and has dominated the African media space through a mix of local programming and exclusive sports content.
Chairman of MultiChoice, Elias Masilela, welcomed the deal as a testament to investor confidence in the company’s future and Africa’s growth potential, adding that the acquisition aligns with MultiChoice’s continental ambitions.
To comply with South African media laws that restrict foreign ownership of broadcast licences, MultiChoice has created a new company, LicenceCo, which will independently hold its domestic licence.
The deal includes conditions from South Africa’s Competition Commission, including commitments by Canal+ to invest in local content and promote South African productions to wider markets.
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