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French media company Canal+ has completed its acquisition of MultiChoice Group, making the African pay television company a full subsidiary of the global entertainment business.
The development marks the end of a transaction that began in 2023 when Canal+, already MultiChoice’s largest shareholder, made an offer to acquire the remaining shares in the company.
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In a statement on Thursday, David Mignot, Chief Executive Officer of Canal+ Africa and MultiChoice, said the integration positions MultiChoice as part of a media group with operations across Europe, Africa and Asia.
“MultiChoice is now a full subsidiary of a truly international media group operating in 70 countries. The group was founded in France, is listed in London and Johannesburg, and has a strong African presence with operations in more than 45 countries,” Mr Mignot said.
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What the acquisition means
According to Canal+, becoming part of the larger media group will give MultiChoice access to greater financial resources, international expertise and a wider distribution network.
The company said the integration is expected to strengthen MultiChoice’s position in Africa’s fast-growing media and entertainment industry while reinforcing Canal+’s long-term investment on the continent.
MultiChoice operates in more than 50 African markets through its DStv and GOtv platforms, offering sports, movies, entertainment and news to millions of subscribers.
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How the deal began
Canal+ first announced its intention to acquire MultiChoice in 2023 after gradually increasing its shareholding in the South African broadcaster over several years.
In 2024, the French company submitted a mandatory offer to purchase the remaining shares it did not already own, valuing MultiChoice at about R55 billion (approximately $3 billion).
The transaction required approval from South Africa’s competition and broadcasting regulators due to rules governing foreign ownership of broadcasting licences.
To meet regulatory requirements, MultiChoice restructured parts of its South African broadcasting business while Canal+ proceeded with the acquisition.
Industry significance
The acquisition brings together two of the largest pay television businesses operating in Africa.
Industry analysts say the deal could strengthen Canal+’s ability to compete with global streaming platforms such as Netflix, Amazon Prime Video and Disney+, while expanding investment in African film, television and sports content.
READ ALSO: French media conglomerate Canal+ gets approval to acquire MultiChoice
Canal+ has said it intends to build on MultiChoice’s existing operations rather than replace them, maintaining the company’s focus on African audiences and locally produced content.
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