By Emmanuel Kwada
In a transformative move reshaping Africa’s media landscape, French media conglomerate Canal+ has finalized its acquisition of MultiChoice Group, the parent company of DStv and GOtv, in a landmark $3 billion deal (approximately 55 billion rand). The South African Competition Tribunal approved the transaction on July 23, 2025, granting Canal+ full ownership by acquiring the remaining 55% stake it did not previously hold.
The deal is set to close by October 8, 2025. The acquisition positions Canal+, already a dominant player in 25 African countries with over eight million subscribers, to significantly expand its footprint across the continent. MultiChoice, Africa’s largest pay-TV operator, brings 14.5 million subscribers across 50 sub-Saharan African countries, along with flagship platforms DStv, GOtv, and premium content brands like SuperSport and Showmax.
The merger creates a multilingual media powerhouse, blending Canal+’s French-language content with MultiChoice’s English and Portuguese offerings. “This is a major step forward in our ambition to create a global media and entertainment company with Africa at its heart,” said Canal+ CEO Maxime Saada.
This is a major step forward in our ambition to create a global media and entertainment company with Africa at its heart
“The combined group will benefit from enhanced scale, greater exposure to high-growth markets, and the ability to deliver meaningful synergies.” The Competition Tribunal’s approval came with stringent public interest conditions to safeguard South Africa’s media sovereignty. Canal+ has committed to investing approximately 26 billion rand over the next three years in local content production, sports broadcasting, and job retention. MultiChoice’s headquarters will remain in South Africa, ensuring continued support for local content creators and the broader media ecosystem.
A joint statement from both companies emphasized their commitment: “We will maintain robust funding for South African general entertainment and sports content, providing local creators with a strong foundation for future success.” The deal, which began with a mandatory buyout offer in 2023 at 125 rand per share, provides a financial lifeline for MultiChoice, which has faced challenges including a loss of 243,000 subscribers between April and September 2024, largely due to economic pressures in Nigeria.
We will maintain robust funding for South African general entertainment and sports content, providing local creators with a strong foundation for future success
The capital injection is expected to fuel investment in local productions, digital platforms like Showmax, and technological upgrades, positioning the combined entity to compete with global streaming giants like Netflix and Amazon Prime.
However, concerns linger among stakeholders, particularly in Nigeria, where subscribers worry about potential price hikes and the prioritization of European content over local productions like Nollywood. Nigeria’s Federal Competition and Consumer Protection Commission (FCCPC) and the Nigerian Broadcasting Commission (NBC) are reviewing the deal to ensure compliance with local content regulations and protect consumer interests.
To comply with South Africa’s Electronic Communications Act, which limits foreign ownership of broadcasting licenses to 20%, Canal+ will spin off MultiChoice’s South African broadcasting license into an independent entity, LicenceCo. This entity will be majority-owned by historically disadvantaged persons, including Phuthuma Nathi, Afrifund Investment, and Identity Partners, holding a 51% economic interest, with Canal+ retaining 49%.
The combined group will benefit from enhanced scale, greater exposure to high-growth markets, and the ability to deliver meaningful synergies
As Africa’s media market continues to evolve with a young, mobile-first population and growing broadband access, this acquisition signals a high-stakes bet on the continent’s potential as the next global streaming frontier. For now, DStv and GOtv subscribers can expect continuity, but the long-term vision points to a new era of innovation and competition in African entertainment.
Join our Telegram group and receive breaking and trending news updates directly on your phone.
Join for News Updates ✕
