Canal+ has completed its takeover of the MultiChoice Group in a media deal valued at R55 billion (approximately $3 billion).
The deal, finalised last week, has resulted in the emergence of a leading pay-TV operator throughout Africa and a new international media powerhouse with a combined subscriber count exceeding 40 million across nearly 70 countries.
The acquisition received conditional approval from South Africa’s Competition Tribunal in July 2025 and was restructured to meet local ownership regulations.
MultiChoice’s roots trace back to the early pay-TV launch via M-Net in the late 1980s and 1990s; its distribution and subscriber services were formalised as MultiChoice in the mid-1990s, later expanding into DStv, GOtv, Showmax, and the SuperSport networks.
Over more than three decades, the company built a pan-African presence, secured premium sports rights, produced local entertainment formats, and invested in skills development and production capacity across multiple markets.
Canal+ is a prominent French media and entertainment firm, founded in the 1980s and based near Paris. It operates premium pay-TV channels, streaming platforms, and production/distribution entities, including StudioCanal.
The company serves millions of predominantly French-speaking subscribers across Europe, Africa, and elsewhere, financing local and international film and TV projects.
Since Canal+’s recent separation from Vivendi, another major French multinational media conglomerate, Canal+ has aggressively expanded internationally, most recently acquiring MultiChoice to strengthen its global footprint.
In Eswatini, MultiChoice has country offices in three main locations: Mbabane on Dzeliwe Street, Manzini on Nkoseluhlaza Street opposite the Manzini Lifestyle Centre, and Ezulwini at The Gables in Galleria Mall.
In other African nations, MultiChoice operates Resource Centres (MRCs) that deliver DStv educational content and training to schools and teachers.
The company also supports local production and community development initiatives, establishing it as a notable corporate partner across much of Africa.
Additional information from the Associated Press states that Canal+, already a significant shareholder, now shifts from a major investor to the de facto controller of MultiChoice, signalling a move to extend beyond its French-speaking markets and enhance English-language services and local productions across Africa.
For viewers, the takeover is not expected to prompt immediate price or service changes, with Canal+ emphasising a focus on value, local content, and customer experience over rapid change.
However, as reported by Reuters, the scale of this acquisition raises important discussions about media diversity, regulation, and the future of pay TV in Africa: increased scale means greater capacity to fund original African content but also a duty to preserve competitive markets and diverse viewpoints.
Furthermore, the parties involved have committed approximately R26 billion in public-interest initiatives over three years—covering skills development, sports investment, and support for small and disadvantaged suppliers.
HDP suppliers are businesses at least 51% owned by Historically Disadvantaged Persons (HDPs), and as part of the approval process, Canal+ and MultiChoice pledged commitments to the South African Competition Commission.
These include measures to foster supplier diversity and support HDP and SMME (Small, Medium and Micro Enterprises) businesses.
The objective is to safeguard local industries and employment.