French media giant, Canal+ Group, is officially set to complete its full acquisition of MultiChoice, Africa’s largest pay-TV broadcaster, following the final approval by South Africa’s Competition Tribunal.
The long-anticipated merger, which had undergone rigorous regulatory reviews, will now move into its final phase, with both parties confirming plans to conclude the transaction by October 8, 2025.
Canal+ will pay R125 per share (approximately $7) in cash to acquire all outstanding shares of MultiChoice, a move that solidifies its ambition to create a pan-African media powerhouse.
In a joint statement issued on Wednesday, the companies hailed the development as a significant milestone, while also confirming that the Tribunal’s approval comes with public interest conditions previously outlined earlier in the year.
Those commitments include:
- Continued funding for local entertainment and sports programming
- Support for Historically Disadvantaged Persons (HDPs)
- Expanded inclusion of SMEs in South Africa’s audiovisual sector
Maxime Saada, CEO of Canal+, celebrated the approval, saying it represents “a hugely positive step in our journey that brings together two iconic media and entertainment companies and creates a true champion for Africa”.
“The approval by South Africa’s Competition Tribunal marks the final stage in the South African competition process and clears the way for us to conclude the transaction,” Saada added. “The combined Group will benefit from enhanced scale, greater exposure to high-growth markets and the ability to deliver meaningful synergies.”
MultiChoice CEO, Calvo Mawela, echoed the excitement, calling the move a “significant milestone” in African media history.
“We look forward to executing the remaining processes required to complete the transaction and to start building something extraordinary: a global media and entertainment company with Africa at its heart,” Mawela said.
As part of the structural arrangement, MultiChoice’s South African broadcasting operations will be shifted into a new independent entity known as Licence Co, which will be majority-owned and controlled by HDPs, ensuring compliance with local broadcasting regulations and preserving national media interests.
Canal+ already operates in 25 African countries and sees this full takeover as a springboard to scale across the continent, integrating its French-language strength with MultiChoice’s dominant English and Portuguese platforms including DStv, GOtv, and SuperSport.
