French media giant Canal+ has officially completed its $3.17 billion (R55 billion) acquisition of MultiChoice Group, bringing the parent company of DStv and GOtv fully under its ownership after a two-year acquisition process.
The completion marks one of the largest cross-border media acquisitions in Africa and signals a major shift in the continent’s pay television industry.
David Mignot, Chief Executive Officer of Canal+ Africa and MultiChoice, confirmed the integration, stating that MultiChoice is now part of an international media group operating across 70 countries in Europe, Africa, and Asia.
The acquisition journey began in 2024 when Canal+ made an initial takeover offer, which MultiChoice rejected for undervaluing the company. After increasing its stake beyond the regulatory threshold, Canal+ entered formal negotiations and secured approvals from South African competition and broadcasting regulators.
To comply with local ownership regulations, the companies established LicenceCo, a separate South African entity responsible for managing broadcasting licences while allowing Canal+ to complete the transaction.
The acquisition gives Canal+ ownership of one of Africa’s largest television distribution networks, with MultiChoice serving millions of subscribers through DStv and GOtv across more than 50 African markets.
Beyond expanding its continental footprint, Canal+ plans to strengthen MultiChoice’s local content strategy while leveraging StudioCanal to distribute African productions to international audiences. The combined company is also expected to compete more aggressively with global streaming platforms such as Netflix, Amazon Prime Video and Disney+.
Canal+ has also announced plans for a secondary listing on the Johannesburg Stock Exchange in September 2026, allowing South African investors to retain exposure to the merged business after MultiChoice’s delisting.
The acquisition reinforces Canal+’s long-term strategy to strengthen its presence in Africa while positioning MultiChoice for its next phase of growth in an increasingly competitive digital entertainment market.
