Amanze Chinonye
French media giant Canal+ has secured full ownership of MultiChoice Group in a landmark deal valued at approximately $2.9 billion (R55 billion), after receiving conditional regulatory approval from South Africa’s Competition Tribunal on 23 July 2025.
The acquisition sees Canal+ purchase the remaining 55% stake in MultiChoice, having already accumulated a 45.2% interest. The offer of R125 per share will delist MultiChoice from the Johannesburg Stock Exchange and transfer full control of the continent’s largest pay-TV operator, including brands like DStv, GOtv, Showmax, SuperSport, and M‑Net, to Canal+, a subsidiary of French media conglomerate Vivendi.
Join our WhatsApp ChannelThe Tribunal’s approval was granted on several public interest conditions, including a R26 billion investment commitment over three years, the retention of MultiChoice’s headquarters in South Africa, preservation of jobs, support for small and medium enterprises, and increased investment in local content production.
Additionally, due to South Africa’s Electronic Communications Act, which restricts foreign ownership of broadcast licence holders to 20%, the parties agreed to spin off MultiChoice’s South African broadcasting business into a separate, locally owned entity referred to as “LicenceCo.” This structure ensures majority ownership by Historically Disadvantaged Persons (HDPs) through entities such as Phuthuma Nathi, Identity Partners, and others.
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The deal is expected to close by October 8, 2025, subject to the fulfillment of the remaining regulatory and structural obligations.
MultiChoice has faced significant operational challenges in recent years. In its financial results for the year ending March 2025, the group reported a 9% revenue decline and the loss of 1.2 million subscribers, bringing its total to around 14.5 million. For Canal+, the acquisition expands its reach beyond its base of 8 million Francophone African subscribers and strengthens its footprint across English- and Portuguese-speaking markets.
Analysts believe the deal positions Canal+ to compete more effectively with global streaming platforms like Netflix, Amazon Prime Video, and Disney+ by merging its existing French-language content with MultiChoice’s diverse local offerings, sports coverage, and streaming platform, Showmax.
A Canal+ spokesperson described the move as a strategic investment in Africa’s fast-growing media landscape, saying the integration would enhance the availability of multilingual content while bolstering local storytelling, job creation, and cultural preservation.
As the October deadline approaches, attention now shifts to how the newly combined media force will navigate local market dynamics, pricing structures, and regulatory oversight across more than 50 African countries.
Amanze Chinonye is a Staff Correspondent at Prime Business Africa, a rising star in the literary world, weaving captivating stories that transport readers to the vibrant landscapes of Nigeria and the rest of Africa. With a unique voice that blends with the newspaper's tradition and style, Chinonye's writing is a masterful exploration of the human condition, delving into themes of identity, culture, and social justice. Through her words, Chinonye paints vivid portraits of everyday African life, from the bustling markets of Nigeria's Lagos to the quiet villages of South Africa's countryside . With a keen eye for detail and a deep understanding of the complexities of Nigerian society, Chinonye's writing is both a testament to the country's rich cultural heritage and a powerful call to action for a brighter future. As a writer, Chinonye is a true storyteller, using her dexterity to educate, inspire, and uplift readers around the world.
