Canal+ successfully buys MultiChoice

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French media company Canal+ has finished buying MultiChoice Group. This makes the African pay TV company a full part of the global entertainment company.

This deal wraps up a process that started in 2023. Canal+, which was already the biggest shareholder in MultiChoice, made an offer to buy the rest of the shares in the company.

On Thursday, David Mignot, CEO of Canal+ Africa and MultiChoice, said this move puts MultiChoice in a media group that works in 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.

What the acquisition means

Canal+ believes that joining this larger media group will give MultiChoice better financial support, international know-how, and a broader distribution network.

The company said this integration will help strengthen MultiChoice’s place in Africa’s growing media and entertainment market. It will also back Canal+’s long-term investments on the continent.

MultiChoice operates in more than 50 African countries through its DStv and GOtv platforms. They provide sports, movies, entertainment, and news to millions of subscribers.

How the deal began

Canal+ first shared its plans to buy MultiChoice in 2023 after slowly increasing its stake in the South African broadcaster over the years.

In 2024, the French company made a required offer to buy the remaining shares it did not own, valuing MultiChoice at about R55 billion (around $3 billion).

The deal needed approval from South Africa’s competition and broadcasting regulators because of rules about foreign ownership of broadcasting licenses.

To satisfy regulatory needs, MultiChoice changed some parts of its South African broadcasting business while Canal+ moved forward with the acquisition.

Industry significance

This acquisition combines two of the largest pay TV companies in Africa.

Industry experts say this deal could help Canal+ compete better with global streaming services like Netflix, Amazon Prime Video, and Disney+. It may also increase investment in African films, television, and sports content.

Canal+ has stated it wants to build on MultiChoice’s current operations instead of replacing them. They plan to keep focusing on African audiences and local content.