French media conglomerate Canal+ has completed its long-awaited $3 billion acquisition of South African broadcaster MultiChoice Group, marking one of the largest media transactions in Africa and reshaping the continent’s pay-television and streaming landscape.
The transaction, finalized in July 2026, gives Canal+ full ownership of MultiChoice, the operator of DStv and GOtv, which together serve more than 30 million subscribers across over 50 African markets. The acquisition significantly expands Canal+’s footprint and strengthens its ambition to become the continent’s leading integrated media and entertainment company.
Under the terms of the deal, Canal+ paid R125 per share to acquire the outstanding shares it did not already own. Having previously built a stake of approximately 45% in MultiChoice, the French broadcaster spent an estimated $1.9 billion in cash to acquire the remaining publicly held shares and complete the takeover.
David Mignot, Chief Executive Officer of Canal+ Africa and MultiChoice, said the completion of the transaction marks the beginning of a new chapter for the business.
“We are now a full subsidiary of a truly international media group,” Mignot said, adding that the combined company is positioned to accelerate investment in premium content, technology and digital entertainment across Africa.
The acquisition concludes a regulatory process that required Canal+ to address South Africa’s foreign ownership rules governing broadcasting assets. As part of the approval process, the company secured a secondary listing on the Johannesburg Stock Exchange (JSE) on June 3, 2026, while implementing a corporate structure designed to comply with local media ownership regulations.
Industry analysts say the merger could strengthen Canal+’s ability to compete against global streaming platforms such as Netflix, Disney+ and Amazon Prime Video, which have intensified competition for African audiences. By combining Canal+’s extensive French-language programming with MultiChoice’s dominant English-language sports, entertainment and local content portfolio, the enlarged group is expected to broaden its appeal across both Anglophone and Francophone markets.
The combined company is also expected to generate operational efficiencies through greater investment in streaming technology, content production, advertising solutions and digital distribution. These synergies could help improve profitability at a time when traditional pay-TV operators face rising content costs, currency volatility and changing consumer viewing habits.
For subscribers, the immediate impact is expected to be limited, with DStv and GOtv continuing normal operations under the MultiChoice brand. However, industry observers anticipate the integration could eventually deliver expanded content offerings, improved streaming services and a more unified entertainment ecosystem across Africa.
The successful completion of the acquisition underscores Canal+’s long-term confidence in Africa’s growing media market, despite economic headwinds, positioning the company to capitalize on rising demand for digital entertainment and locally produced content.
