SOUTH Africa’s Competition Tribunal has approved French media giant Canal+’s R35 billion ($2 billion) takeover of Africa’s largest pay-TV broadcaster, MultiChoice Group, marking a watershed moment that could reshape the continent’s media landscape.
The landmark deal, approved with strict conditions, will combine two of Africa’s most prominent broadcasters in what industry experts view as a strategic response to the growing dominance of global streaming platforms like Netflix across the continent.
The companies said they remain on track to complete the mandatory offer by Canal+ and expect to finalise the transaction before the previously announced deadline of October 8, 2025. The approval represents the final hurdle in South Africa’s competition review process for the transformative deal.
Transforming African Broadcasting
Canal+, which spun off from parent company Vivendi in December 2024, made its firm offer of R125 per MultiChoice share last year, valuing the South African broadcaster at approximately R55 billion. The French company’s expansion into English-speaking African markets through this acquisition represents its most ambitious continental strategy to date.
“The combined group will benefit from enhanced scale, greater exposure to high-growth markets and the ability to deliver meaningful synergies,” said Maxime Saada, CEO of Canal+, highlighting the deal’s strategic importance for both companies.
For MultiChoice, owner of the popular DStv satellite service, Showmax streaming platform, and SuperSport channels, the acquisition provides crucial capital injection needed to compete with international streaming services while supporting local content production and technological innovation.
Stringent Approval Conditions
The Competition Tribunal’s approval comes with comprehensive conditions designed to protect South Africa’s broadcasting sector and promote transformation. The merger parties have committed to a R26 billion public interest package over the next three years, focusing on supporting historically disadvantaged persons and small enterprises in the audio-visual industry.
The conditions include guaranteed funding for local South African entertainment and sports content, ensuring content creators maintain a stable foundation for future productions. This addresses concerns about foreign ownership potentially undermining local content development.
To navigate South African regulations that limit foreign ownership of broadcasting licenses to 20%, MultiChoice will carve out its domestic broadcasting unit into an independent entity majority-owned and controlled by historically disadvantaged persons.
Industry Consolidation Begins
The approval signals the beginning of a broader consolidation wave across Africa’s media sector, as traditional broadcasters seek scale and resources to compete against global streaming giants that have increasingly targeted African markets.
The deal positions the combined entity to leverage Canal+’s experience in French-speaking African markets with MultiChoice’s dominance in English-speaking regions, potentially creating a continental media powerhouse capable of producing and distributing content across Africa’s diverse linguistic and cultural landscape.
Industry analysts suggest this consolidation could trigger similar moves across the continent as media companies seek partnerships and mergers to remain competitive in an increasingly crowded streaming market.
The successful completion of this deal will test whether traditional African broadcasters can effectively combine forces to challenge the growing influence of international streaming platforms while maintaining their commitment to local content and cultural relevance.
