French media conglomerate Canal+ has received the go-ahead from South African authorities to finalize its acquisition of MultiChoice, Africa’s largest pay-TV operator. This marks the final step in a process that began months ago and now paves the way for the transaction to close by October 8.
The South African Competition Tribunal approved the deal on Wednesday, allowing Canal+ to purchase the remaining 55 percent of MultiChoice shares it does not already own. “This approval clears the way for us to conclude the transaction in line with our previously communicated timeline,” Canal+ CEO Maxime Saada said.
The acquisition is valued at approximately $3 billion (2.6 billion euros), with Canal+ offering 125 rand per share. While the deal has now crossed the last regulatory barrier, it comes with conditions, including a public-interest package reportedly worth about 26 billion rand over three years and a stipulation that MultiChoice’s headquarters remain in South Africa.
MultiChoice, best known for its DStv and SuperSport platforms, operates across 50 countries in sub-Saharan Africa and currently boasts 14.5 million subscribers. Canal+, with a presence in 25 African nations, serves eight million customers across 16 subsidiaries.
By bringing together Canal+’s French-language media with MultiChoice’s primarily English and Portuguese offerings, Saada believes the union will redefine entertainment on the continent. “I’m excited about the potential this transaction unlocks for all stakeholders… the combined Group will benefit from enhanced scale, greater exposure to high-growth markets and the ability to deliver meaningful synergies,” he said.
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With this consolidation, Canal+ aims to expand its subscriber base from 27 million to between 50 and 100 million users in the coming years, reinforcing its footprint in a region that continues to draw increasing investor attention. Saada described the development as “a hugely positive step forward in our journey to bring together two iconic media and entertainment companies and create a true champion for Africa.”
In a market where the Nigerian government’s own media strategies and public spending on communication have been heavily criticized, the growing dominance of private international players like Canal+ raises new questions about local content control, affordability, and the strategic direction of Africa’s media ecosystem. Canal+ shares rose 1.3% on the London market following the announcement and have gained 12.8% so far this year.
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