French media giant Canal+ has completed the full integration of South African pay-TV company MultiChoice Group following a $3 billion (R55 billion) takeover, officially turning the owner of DStv and GOtv into a wholly owned subsidiary.
Through this consolidation, MultiChoice joins a global media structure operating across 70 countries while continuing to serve millions of subscribers with sports, entertainment, and news programming in more than 50 African markets. The transaction concludes a multi-year process that began in 2023 when Canal+ launched a buyout offer after increasing its stake beyond the 35% threshold that triggers South Africa’s mandatory takeover rules.
After securing clearances from South Africa’s Competition Commission, Competition Tribunal, and broadcasting regulators, the formal takeover was completed in September 2025, leading to the final operational integration today. To comply with South African domestic ownership requirements for broadcasting licenses, the companies established a separate local entity called LicenceCo to manage domestic broadcasting operations under a compliant structure.
Additionally, as part of its regulatory commitments, Canal+ completed a secondary listing on the Johannesburg Stock Exchange (JSE) on June 3, 2026. The enlarged group plans to leverage its unified strength to compete against global streaming platforms like Netflix, Amazon Prime Video, and Disney+ by ramping up investments in MultiChoice’s streaming platform Showmax and utilizing StudioCanal to expand the international distribution of African-produced content.
