French media giant Canal+ has finalized the acquisition of MultiChoice Group, the owner of popular satellite TV platforms DStv and GOtv, in a deal valued at $3 billion.
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The landmark transaction, approved by South Africa’s Competition Tribunal on Wednesday, grants Canal+ full ownership of MultiChoice, including the remaining 55% stake it did not previously hold.
As part of the approval conditions, the Tribunal emphasized the need to safeguard South Africa’s media independence and protect investments in local content. Canal+ has pledged to invest around 26 billion rand over the next three years in initiatives aimed at supporting public interest goals ranging from local content production to sports broadcasting.
The acquisition marks a major strategic move by Canal+ to solidify its footprint in Africa’s rapidly growing entertainment market. The company aims to expand its subscriber base across the continent to between 50 and 100 million users.
The merger will also enable the new entity to operate at a larger scale, offering diversified content in French, English, and Portuguese. MultiChoice’s headquarters will remain in South Africa, ensuring continued support for local creators and the broader media landscape.
