In a significant move that could reshape the African media landscape, French media giant Canal+ has received conditional approval from South Africa’s Competition Tribunal to acquire MultiChoice Group, the parent company of DStv and Showmax, in a deal valued at $2.9 billion. This acquisition marks a major milestone in Canal+’s expansion strategy in Africa, particularly in English-speaking regions.

The Deal’s Implications

The acquisition, expected to close by October 8, 2025, will see Canal+ acquire the remaining shares of MultiChoice, bolstering its position in the African pay-TV and streaming market. With over 22 million subscribers across Africa, the combined entity will be a formidable player in the industry, rivaling global streaming giants like Netflix and Amazon Prime.

Key Highlights of the Deal

• Enhanced Scale and Reach: The acquisition will provide Canal+ with a stronger presence in high-growth markets, enabling it to deliver meaningful synergies and enhance local content production.
• Public Interest Commitments: Canal+ has committed to investing R26 billion ($1.48 billion) over three years in public interest initiatives, including support for local entertainment and sports content, and meaningful participation of Small, Micro, and Medium Enterprises (SMMEs) in South Africa’s audiovisual ecosystem.
• Compliance with Regulations: To adhere to South African broadcasting regulations, MultiChoice’s domestic unit will be carved out into an independent entity, majority-owned and controlled by Historically Disadvantaged Persons (HDPs), ensuring compliance with local ownership rules ¹ ².

What This Means for African Media

The acquisition signals a new era of consolidation and growth in Africa’s media industry, with potential benefits for local content creators and consumers. As Canal+ expands its reach and investment in African content, the continent’s media landscape is poised for significant transformation.

Industry Reaction

Maxime Saada, CEO of Canal+, hailed the approval as a “major step forward” in the company’s ambition to create a global media and entertainment company with Africa at its heart. Calvo Mawela, CEO of MultiChoice, expressed optimism about the deal’s potential to stabilize MultiChoice’s finances and drive innovation, particularly in its streaming service, Showmax.