A major ownership shake-up is underway at South Africa’s MultiChoice following the Competition Tribunal’s approval of a $3 billion takeover bid by French media giant Canal+.
- The Competition Tribunal of South Africa has allowed Canal+ to proceed with acquiring the remaining 55% of MultiChoice, granting it full ownership.
- The deal, valued at $3 billion, includes Canal+’s commitment to invest 26 billion rand over three years in South Africa.
- The merger combines Canal+’s existing presence in 25 African countries with MultiChoice’s 14.5 million subscribers in 50 sub-Saharan markets.
The landmark decision paves the way for Canal+ to acquire the remaining 55% stake in Africa’s largest pay-TV broadcaster, positioning the company for full ownership.
The deal, expected to close by 8 October 2025, signals a significant realignment in the continent’s media landscape. The approval clears the path for Canal+ to acquire MultiChoice, a dominant player across sub-Saharan Africa known for its DStv and GOtv platforms.
As part of the approval terms, Canal+ has pledged to invest around 26 billion rand over the next three years in initiatives that support South Africa’s public interest priorities.
Key commitments include keeping MultiChoice’s headquarters in South Africa, continuing to fund locally produced content and live sports, and actively backing the country’s creative sector.
In a joint statement, the two companies reiterated their dedication to the local media industry: “We will maintain funding for South African general entertainment and sports content, providing local content creators with a strong foundation for future success.“
“This deal is transformative,” said Canal+ CEO Maxime Saada. “The combined group will benefit from enhanced scale, greater exposure to high-growth markets, and the ability to deliver meaningful synergies.”
While the financial details of the deal were not disclosed in the latest statement, the transaction follows months of negotiations, shareholder reviews, and regulatory scrutiny.
Update on the acquisition company – Canal+
Canal+, a subsidiary of French media conglomerate Vivendi, has gradually increased its stake in MultiChoice over the years and announced plans earlier this year to pursue a full buyout.
Currently operating in 25 African countries with over eight million subscribers, Canal+ is now poised to significantly scale its presence across the continent. The merger with MultiChoice, home to 14.5 million subscribers in 50 sub-Saharan African countries creates a powerful, multilingual broadcaster spanning English-, French-, and Portuguese-speaking markets.
The South African Competition Tribunal’s approval signals confidence that the deal will not substantially lessen competition in the domestic media sector.
Analysts view the acquisition as a strategic move by Canal+ to strengthen its position in Africa’s rapidly expanding media and streaming landscape.
The deal also reflects growing global interest in African content distribution, as international players look to tap into the continent’s young, digitally connected population.
To comply with local regulations that cap foreign ownership of a South African broadcasting licensee at 20%, MultiChoice will separate its domestic broadcasting unit into a new, independent company, majority owned and controlled by Historically Disadvantaged Persons.
Final implementation of the transaction now hinges on remaining regulatory approvals and shareholder decisions.
