Canal+ Completes Acquisition of MultiChoice Group: A New Era in African Media
French media company Canal+ has officially taken control of South Africa’s MultiChoice Group, the parent of DStv and GOtv, marking a significant development in the African entertainment landscape. This acquisition signifies Canal+’s ambition to become a leading global player in the media and entertainment sector.
On September 22, Canal+ confirmed its acquisition in a notice stating that it had acquired all remaining shares in MultiChoice. The transaction was executed after Canal+ made a mandatory cash offer of ZAR 125 (approximately Ksh 928.73) per share for the outstanding shares, successfully navigating the complexities of regulatory requirements.
The announcement included a statement from Canal+, detailing that the takeover bid had become unconditional with all necessary regulatory approvals obtained. This marks a pivotal moment for both companies, as Canal+ asserts its dominance in Africa’s burgeoning pay-TV market, which encompasses operations in 50 countries.
Leadership Changes and Strategic Moves
As part of the acquisition, Canal+ restructured MultiChoice’s leadership, appointing veteran executive David Mignot as the new CEO, replacing Calvo Mawela. Additionally, Canal+ CEO Maxime Saada took over as chairman of the MultiChoice board, while Mawela assumed a new role as the chair of the Africa Management Board within Canal+’s regional operations. This leadership reshuffle is expected to streamline operations and enhance strategic alignment across the organizations.
This acquisition presents Canal+ with an unparalleled opportunity to bolster its reach and influence in Africa while also paving the way for significant investments in content creation, technology, and innovation. Saada highlighted the importance of this agreement, noting that the collaboration will allow Canal+ to invest more in local and international content, thereby expanding its digital capabilities across multiple regions.
A Dominant Foothold in the African Market
The acquisition of MultiChoice is not just a business maneuver; it positions Canal+ as a formidable force in the African pay-TV landscape, where the demand for quality content is on the rise. With this acquisition, Canal+ aims to serve over 40 million subscribers across nearly 70 countries, reinforcing its intent to emerge as one of the top five entertainment entities globally.
Canal+ initially began acquiring shares in MultiChoice in 2020, steadily increasing its stake from 20% to approximately 31.7% by early 2023, and culminating in this full acquisition. Following the completion of the deal, Canal+ is set to leverage its global presence and resources to enhance content offerings across various platforms.
Regulatory Hurdles and Public Interest Commitments
However, the path to acquisition wasn’t without challenges. South African broadcasting laws impose restrictions on foreign ownership, capping it at 20%. To comply with these regulations, MultiChoice carved out its South African operations into a separate licensing entity, ensuring that a significant portion remained in local hands. This move reflects Canal+’s commitment to operating within legal frameworks while also promoting inclusivity in the local market.
Moreover, the acquisition comes with commitments for public interest initiatives estimated at approximately Ksh 188 billion over three years, focusing on local empowerment and participation of small and medium enterprises. The Competition Tribunal approved the merger conditionally on July 23, 2025, signaling institutional backing for this significant market shift.
About Canal+
Founded as a subscription television channel over 40 years ago, Canal+ has evolved into a global media powerhouse, boasting approximately 26.9 million subscribers worldwide and over 400 million monthly active users across its streaming platforms. The company operates directly in 52 countries and holds leading pay-TV positions in numerous markets, generating remarkable revenue streams across 195 countries.
With an expansive reach, Canal+ is strategically positioned to reshape the entertainment landscape, not just in Africa but also in Europe and Asia. The ongoing integration of MultiChoice into Canal+ will facilitate a full audio-visual value chain, covering production, broadcasting, distribution, and content aggregation, effectively enhancing the viewing experience for millions.
