French media conglomerate Canal+ Group has completed its $3 billion acquisition of South Africa’s MultiChoice Group, securing full control of Africa’s leading pay-TV platforms, DStv and GOtv. The deal was approved by South Africa’s Competition Tribunal on July 23, 2025, and is expected to close fully by October 8, 2025.
Canal+ already held a 45% stake in MultiChoice and acquired the remaining 55% at R125 per share, valuing the company at approximately R55 billion ($3 billion). This acquisition is part of Canal+’s strategy to expand its footprint across Africa’s English- and Portuguese-speaking markets.
To meet South African legal requirements, MultiChoice’s domestic broadcasting licenses will be transferred to a new, locally controlled entity called LicenceCo, in which Canal+ will hold only a 49% economic interest. The company also committed to investing R26 billion over the next three years in local content, job protection, and empowerment initiatives.
With over 14.5 million subscribers in 50+ countries, the merger positions Canal+ to better compete with global streaming platforms like Netflix and Amazon Prime Video. Assets now under Canal+ include SuperSport, Africa Magic, M-Net, Showmax, and more.
Canal+ CEO Maxime Saada called the acquisition a strategic milestone and aims to enhance content offerings and streaming technology across the continent while preserving local creative independence.
