The French media giant says the deal will strengthen MultiChoice's operations across Africa and expand its international reach.
French media company Canal+ has completed the acquisition of MultiChoice GroupThereby 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, offered to acquire the remaining shares in the company.
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In a statement on Thursday, Canal+ Africa and MultiChoice chief executive David Mignot 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 active 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,” Mignot said.
What does acquisition mean?
According to Canal+, becoming part of a 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 strengthening Canal+'s long-term investment on the continent.
MultiChoice operates in over 50 African markets through its DStv and GOtv platforms, providing sports, movies, entertainment and news to millions of customers.
How did the deal start?
Canal+ announced its intention to acquire MultiChoice in 2023 after gradually increasing its stake in the South African broadcaster over several years.
In 2024, the French company submitted a mandatory offer to buy the remaining shares it did not already own, valuing MultiChoice at approximately R55 billion (about $3 billion).
The transaction required approval from South Africa's competition and broadcasting regulators due to rules governing foreign ownership of broadcasting licenses.
To meet regulatory requirements, MultiChoice restructured parts of its South African broadcasting business, while Canal+ proceeded with the acquisition.
importance of industry
The acquisition brings together the two 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.
Canal+ has stated that 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.