Canal+ Seals $3bn MultiChoice Deal, Unites Africa’s Top Pay-TV Giants

French media powerhouse Canal+ has completed its acquisition of MultiChoice Group, taking full ownership of the pan-African pay-TV giant in a $3 billion deal.

Following regulatory clearance from South Africa’s Competition Tribunal, Canal+ is set to assume full control of MultiChoice by October 8, 2025. The transaction marks a major shift in Africa’s media landscape and includes conditions tied to local content and employment.

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According to Canal+ CEO Maxime Saada, the merger combines Canal+’s French-language content with MultiChoice’s English and Portuguese offerings to form a stronger pan-African entertainment group.

Canal+ currently serves eight million subscribers in Africa and aims to grow its user base to between 50 and 100 million. MultiChoice, with 14.5 million subscribers in 50 sub-Saharan countries, brings in premium content like SuperSport and the DStv brand.

Despite recent revenue challenges—including a 9% drop to $2.87 billion and a loss of 1.2 million subscribers—MultiChoice’s streaming platform Showmax posted a 44% year-on-year growth in paying users. The firm is increasing focus on digital platforms like DStv Stream and DStv Internet.

The merger also includes a commitment to invest 26 billion rand over three years in South African content and operations. MultiChoice’s headquarters will remain in South Africa, and funding for local sports and entertainment will continue under the new ownership.