French media company Canal+ has officially acquired South Africa’s MultiChoice Group in a $3 billion deal, securing full ownership of the pay-TV giants DStv and GOtv.
The acquisition, valued at approximately 55 billion rand, received final approval from South Africa’s Competition Tribunal on Wednesday, July 23, 2025, after months of negotiations and regulatory review. Canal+, which previously held a 45.2% stake in MultiChoice, moved to buy out the remaining shares following an investment of €1.2 billion ($1.3 billion) since 2020.
The transaction is expected to close by October 8, 2025, pending final consent from the Independent Communications Authority of South Africa (ICASA).
In a statement issued via the Johannesburg Stock Exchange, Canal+ CEO Maxime Saada described the approval as a key milestone for the company’s expansion strategy.
“The approval by South Africa’s Competition Tribunal marks the final stage in the South African competition process and clears the way for us to conclude the transaction in line with our previously communicated timeline. This acquisition represents a significant step in expanding our presence across Africa, particularly in English-speaking markets,” Saada said.
Canal+ aims to deepen its presence in Africa’s fast-growing media market by leveraging MultiChoice’s 40-year track record and its nearly 50 million subscribers across the continent.
MultiChoice, which was spun off from Naspers in 2019, has played a leading role in the African pay-TV space, offering a broad range of local content and sports programming through DStv and GOtv.
Reacting to the deal, MultiChoice Chairman Elias Masilela said the acquisition reflects international confidence in the company’s long-term potential.
“The offer from Canal+ endorses MultiChoice’s 40-year track record and our compelling continental growth strategy. It is gratifying to note that foreign investors share our view that South Africa and Africa remain attractive growth markets,” Masilela stated.
To comply with South African laws restricting foreign ownership of broadcasting licences to 20%, MultiChoice has created a separate entity, LicenceCo, which will hold its domestic broadcasting licence independently.
The Competition Commission had earlier recommended the deal for approval, subject to certain conditions—including commitments to invest in local audiovisual content and promote South African productions in new international markets.
