JOHANNESBURG – French media and entertainment group Canal+ has completed its US$3 billion (R55 billion) acquisition of MultiChoice Group, marking the end of a multi-year takeover process that brings Africa’s largest pay-television operator fully under its ownership.
The transaction transforms MultiChoice, the parent company of DStv, GOtv and streaming platform Showmax, into a wholly owned subsidiary of Canal+, strengthening the French broadcaster’s footprint across the African media and entertainment industry.
The acquisition was completed through a mandatory buyout offer of R125 per share, valuing MultiChoice at approximately R55.3 billion. Canal+ had gradually built a significant stake in the Johannesburg-listed broadcaster before moving to acquire the remaining shares following the necessary regulatory approvals.
With the deal now concluded, Canal+ has completed the integration of one of Africa’s most recognised media companies into its international portfolio, which spans operations in 70 countries and serves millions of subscribers worldwide.
David Mignot, Chief Executive Officer of Canal+ Africa and MultiChoice, said the transaction positions the business for its next phase of growth under a global media platform with an extensive international presence.
The acquisition comes as Africa’s pay-TV industry faces mounting competition from global streaming platforms and changing consumer spending patterns. Rising inflation and the rapid expansion of on-demand services have intensified pressure on traditional subscription television operators across the continent.
Industry analysts say Canal+’s financial strength and global scale could enhance MultiChoice’s ability to compete by improving its purchasing power for premium sports and entertainment rights while accelerating investment in digital streaming technologies.
The integration is also expected to bolster Showmax, MultiChoice’s streaming platform, through increased investment in technology, content development and product innovation as the company seeks to strengthen its position against international streaming rivals.
A key pillar of Canal+’s long-term strategy is expected to be increased investment in African-produced content, including films, television series and live sports programming. The company believes expanding local-language productions and original African content will remain central to attracting and retaining subscribers across the continent.
Although the acquisition values MultiChoice at approximately US$3 billion, Canal+ did not pay the full amount upon completion, having accumulated a substantial shareholding over several years before launching its final offer for the outstanding shares.
The takeover represents one of the largest media transactions in Africa in recent years and signals continued international investor interest in the continent’s rapidly evolving digital entertainment sector. The combined business is expected to leverage Canal+’s global distribution network alongside MultiChoice’s established presence in more than 45 African markets to drive future growth.
