French Media Giant Takeover MultiChoice
French media conglomerate Canal+ has officially secured control of South African pay-TV and streaming giant MultiChoice, in what the company described as its largest-ever transaction. The deal creates a media group spanning nearly 70 countries across Africa, Europe and Asia.
In a joint statement issued on Monday, the companies confirmed that the merged entity will employ 17,000 people and serve a combined subscriber base of more than 40 million.
The acquisition strengthens Canal+’s foothold in Africa, where it already dominates French-speaking markets. By taking control of MultiChoice, the group now oversees operations in English- and Portuguese-speaking regions as well, making it the continent’s leading pay-TV provider.
Canal+ chief executive Maxime Saada said the deal reinforces the company’s position in one of the fastest-growing pay-TV markets globally.
The takeover received final approval from South Africa’s competition authority in July, more than a year after Canal+ first made its offer. The French firm initially proposed R125 ($7.20) per share, valuing MultiChoice at around $3 billion.
Canal+ currently operates in 25 African countries through 16 subsidiaries, reaching eight million subscribers. MultiChoice, meanwhile, has a strong presence in 50 countries across sub-Saharan Africa with 14.5 million subscribers. Its portfolio includes the DStv satellite service and Africa’s leading sports broadcaster, SuperSport.