French media conglomerate Canal+ has officially acquired full ownership of MultiChoice Group, the parent company of DStv and GOtv, in a significant transaction valued at $3 billion (approximately 55 billion rand). This acquisition, which allows Canal+ to secure the remaining 55% stake it did not previously hold, received approval from South Africa’s Competition Tribunal on Wednesday, July 23.
The Tribunal’s approval follows extensive negotiations and a thorough regulatory review process, facilitating the finalization of the deal, which is anticipated to occur by October 8, 2025. While the Tribunal endorsed the acquisition, it introduced several public interest stipulations designed to safeguard local content and uphold South Africa’s media sovereignty.
For Canal+, this acquisition signifies a pivotal strategic expansion within Africa’s burgeoning media and entertainment sector. The company, already operating in 25 African nations with a subscriber base exceeding eight million, is now strategically positioned to amplify its reach, with aspirations to serve between 50 to 100 million subscribers across the continent in the forthcoming years.
MultiChoice, recognized as Africa’s largest pay-TV broadcaster, boasts a subscriber base of more than 14.5 million across 50 sub-Saharan African nations, alongside flagship platforms such as DStv and GOtv. The company also encompasses prominent content brands, including SuperSport, thereby enhancing its appeal as an acquisition target for the French media powerhouse.
Canal+ CEO Maxime Saada characterized the transaction as transformative, stating, “The combined group will benefit from enhanced scale, greater exposure to high-growth markets, and the ability to deliver meaningful synergies.”
A principal advantage of this merger lies in the integration of Canal+’s French-language content with MultiChoice’s dominant English and Portuguese offerings, thereby establishing a multilingual media powerhouse that can cater to Africa's diverse audiences effectively.
Beyond strategic implications, this acquisition provides timely financial support for MultiChoice. The deal is projected to infuse substantial capital into the South African broadcaster, facilitating increased investment in local content production, technological advancements, and digital innovation.
As part of the Competition Tribunal’s conditional approval, Canal+ has pledged to allocate approximately 26 billion rand over the next three years toward initiatives aligned with South Africa’s public interest objectives. These initiatives include the retention of MultiChoice’s headquarters in South Africa, continued investment in local content and sports broadcasting, and the support of local content creators.
In a joint statement, both companies reaffirmed their commitment to the South African media landscape: “We will maintain funding for South African general entertainment and sports content, providing local content creators with a robust foundation for future success.”
Canal+ initiated its takeover bid in 2023 with a mandatory buyout offer of 125 rand per share, estimating the value of MultiChoice at around $3 billion. With full ownership now secured, the French media giant is poised to redefine Africa’s pay-TV industry, leveraging its vast potential and altering the competitive landscape.
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