The acquisition, approved by South Africa’s Competition Tribunal, gives the French media giant full control of MultiChoice’s pay-TV services.
French broadcaster Canal+ has acquired full ownership of MultiChoice Group, the South African company behind popular pay-TV platforms DStv and GOtv.
The deal, worth $3 billion (approximately 55 billion rand), received regulatory approval from South Africa’s Competition Tribunal on Wednesday, July 23.
Canal+, which had held a 45.2% stake in MultiChoice, began its takeover push after investing €1.2 billion since 2020. The transaction is expected to close by October 8, pending final clearance from South Africa’s communications regulator.
Canal+ CEO Maxime Saada described the approval as “the final stage in the South African competition process,” adding that the acquisition strengthens the company’s expansion plans across Africa, particularly in English-speaking territories.
The move comes as Canal+ deepens its presence in Africa’s growing media sector, leveraging MultiChoice’s 40-year legacy and subscriber base of nearly 50 million. MultiChoice was spun off from Naspers in 2019 and has since become a key player in African entertainment, offering a mix of local shows and sports content.
MultiChoice Chairman Elias Masilela said the offer from Canal+ reflects confidence in the company’s long-term strategy. “It is gratifying to note that foreign investors share our view that South Africa and Africa remain attractive growth markets,” he said.
To comply with South African broadcasting laws restricting foreign ownership to 20%, MultiChoice will move its domestic broadcast licence to a separate entity named LicenceCo.
The Competition Commission had earlier recommended the deal’s approval on the condition that Canal+ commits to investing in local productions and promoting South African content in international markets.