Canal+ Wins Approval for $2 Billion MultiChoice Takeover in South Africa
South Africa’s Competition Tribunal has given the green light for French media company Canal+ to acquire MultiChoice Group in a deal valued at $2 billion (35 billion rand). The announcement signals a significant shift in Africa’s pay-TV landscape. This approval is subject to conditions designed to protect public interests and ensure adherence to South African broadcasting regulations. The acquisition promises to reshape the continent’s pay-TV and streaming sector.
Deal Details and Implications
Canal+, which was separated from Vivendi in December 2024, offered 125 rand per share for the MultiChoice shares it didn’t already own, estimating the South African media giant at roughly $3 billion (55 billion rand). This acquisition, which began in early 2024, is a strategic move by Canal+ to grow its presence in English-speaking African markets. The deal also offers MultiChoice the capital needed to enhance its local content offerings and innovation in the rapidly changing African tech and media environment. MultiChoice currently serves 19.3 million subscribers across 50 sub-Saharan countries, making it the largest pay-TV provider on the continent. Its portfolio includes linear channels and expanding streaming services.
The merger, with its significant investment, will likely create a media powerhouse in the African pay-TV market, consolidating Canal+’s existing African presence with MultiChoice’s wide reach. The conditions attached to the approval from the South African Competition Tribunal highlight the regulatory scrutiny aimed at protecting consumer interests and the broader public good in the increasingly dynamic digital media landscape of the African continent.
Keywords
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