French billionaire Vincent Bollore’s Canal+ has received final regulatory approval to fully acquire MultiChoice the continent’s largest pay-TV provider and parent company of DStv in a monumental $2.9 billion deal. This decision, granted by South Africa’s Competition Tribunal, marks the last significant legal barrier and paves the way for one of Africa’s most significant media shake-ups to date.
A New Era for African Media
- Canal+ now poised to take control of MultiChoice, expanding its footprint across 50+ African countries and consolidating a base of over 22 million subscribers.
- This consolidation strengthens Canal+’s ability to compete with global streaming giants such as Netflix and Amazon in Africa’s fast-growing entertainment market.
How the Deal Was Structured
- The acquisition required Canal+ to pay R125 per share, valuing MultiChoice at about R55 billion ($2.9 billion).
- In line with South African broadcasting laws, MultiChoice’s domestic broadcasting license must be separated out. The license holder, known as “LicenceCo,” will operate as its own company
- Majority owned and controlled by Historically Disadvantaged Persons (HDPs) in South Africa.
Canal+ will hold limited voting rights (capped at 20%) in this new company, with economic and operational interests split to comply with regulations.
Public Interest Commitments
The approval comes with strict public interest conditions:
- Continued investment in South African local content and sports.
- Support for small, micro, and medium enterprises (SMMEs) and historically disadvantaged groups within the audio-visual sector.
- Measures to protect local jobs and supplier diversity.
What’s Next?
- The combined group expects to finalize the transaction before the long-stop date of October 8, 2025.
- Both Canal+ and MultiChoice assure subscribers that their viewing experience will be uninterrupted with expanded offerings and improvements foreseen due to increased investment in content and technology.
- Finalization still requires sign-off from the communications regulator (ICASA) to officially transfer the broadcast license.
The Big Picture
This acquisition cements Canal+’s role as a major force in African media, providing a counterweight to American and international streaming players. It is seen by many as a transformative step that will shape the future of broadcasting, streaming, and locally produced content across Africa for years to come.
Vincent Bollore and Canal+ underscore their commitment to fostering a “true champion for Africa,” blending global scale with continental relevance and local empowerment initiatives.
