French media conglomerate Canal+ has officially secured full ownership of MultiChoice Group, the South African pay-TV giant, in a landmark $3 billion (55 billion rand) deal that is set to reshape Africa’s media and entertainment landscape. This acquisition gives Canal+ full control over popular pay-TV services DStv and GOtv, which dominate the African subscription television market.
The deal was approved by South Africa’s Competition Tribunal on Wednesday, July 23, 2025, following months of regulatory scrutiny and negotiations. Canal+, which previously held a 45.2% stake in MultiChoice, moved to acquire the remaining shares after investing over €1.2 billion ($1.3 billion) since 2020. The transaction is expected to be fully completed by October 8, 2025, pending final clearance from the Independent Communications Authority of South Africa (ICASA).
Announcing the deal, Maxime Saada, CEO of Canal+, expressed optimism about the company’s expanded African footprint.
“The approval by South Africa’s Competition Tribunal marks the final stage in the South African competition process. This acquisition is a significant step in expanding our presence across Africa, particularly in English-speaking markets,” Saada said.
The move strengthens Canal+’s ambitions to dominate Africa’s pay-TV sector, which is projected to grow significantly due to increasing demand for local and sports content. With MultiChoice boasting a subscriber base of nearly 50 million across the continent, Canal+ is set to leverage its strong distribution network and decades of market experience.
Founded in 1985 and spun off from Naspers in 2019, MultiChoice has remained a key player in Africa’s broadcasting sector, offering premier sports, movies, and local programming. Through DStv and GOtv, the company holds a substantial share of Africa’s pay-TV market.
Elias Masilela, Chairman of MultiChoice, described the acquisition as a strong endorsement of the company’s growth potential.
“The offer from Canal+ endorses MultiChoice’s 40-year track record and our compelling continental growth strategy. It proves that Africa remains an attractive market for global investors,” Masilela stated.
Due to South Africa’s broadcasting regulations limiting foreign ownership of broadcasting licences to 20%, MultiChoice has created a new entity, LicenceCo, to hold its domestic broadcasting licence independently.
The Competition Commission approved the deal with strict conditions, including commitments to increase investments in local audiovisual productions, promote South African films in new markets, and ensure fair competition in the downstream broadcasting industry.
Analysts say this acquisition could mean better content variety, improved service quality, and increased investment in original African programming. However, industry experts also caution that regulators must ensure healthy competition to prevent the emergence of a broadcasting monopoly.
If Canal+ meets its content investment obligations, African subscribers could see more localized programming, including enhanced coverage of sports, Nollywood films, and other regional entertainment offerings.