Canal+ Finalises $2 Billion Takeover Of MultiChoice After LicenceCo Approval

In a landmark move for Africa’s media and entertainment industry, French pay-TV giant Canal+ has successfully completed its $2 billion takeover of MultiChoice Group. The deal, which has been in motion for over a year, was sealed following regulatory approval of a newly established “LicenceCo” structure designed to safeguard South Africa’s broadcasting interests while paving the way for foreign investment.

MultiChoice, the owner of DStv and GOtv, has long been the dominant player in sub-Saharan Africa’s pay-TV market, with over 20 million subscribers across the continent. Canal+’s acquisition now positions it as Africa’s most powerful pay-TV operator, consolidating its influence and potentially reshaping content distribution, local productions, and digital streaming in the region. The LicenceCo arrangement ensures that MultiChoice’s South African broadcasting licenses remain under a locally controlled entity, satisfying national laws that limit foreign ownership of broadcasters.

Industry analysts believe the merger could accelerate the rollout of digital streaming services, as both companies look to fend off growing competition from global giants like Netflix, Amazon Prime Video, and Disney+. With Canal+’s deep content library and production expertise, alongside MultiChoice’s established subscriber base and local knowledge, the synergy could boost African storytelling and export regional content to global audiences.

However, questions remain about pricing, market inclusivity, and competition fairness. Consumer rights groups warn that consolidation may tighten control over access and affordability, especially in regions already struggling with high subscription costs. Still, for Africa’s entertainment ecosystem, the deal marks a historic shift—one that blends European capital with African scale, setting the stage for a new era in pay-TV and streaming dominance.