French media powerhouse Canal+ has officially taken control of South African pay-TV and streaming giant MultiChoice, in what is now the largest acquisition in the company’s history. The deal creates a global entertainment group with a footprint across nearly 70 countries in Africa, Europe, and Asia.
According to a joint statement, the merger brings together a workforce of about 17,000 employees and expands the combined subscriber base to more than 40 million. Canal+, already dominant in French-speaking Africa, now also controls what it describes as the leading platform in English- and Portuguese-speaking regions of the continent.
“This acquisition allows us to strengthen our position as a leader in Africa, one of the most dynamic pay-TV markets in the world,” said Canal+ Chief Executive Maxime Saada.
The takeover was finalized after South Africa’s competition authority approved the deal in late July, more than a year after Canal+ first made its move. The French company initially offered 125 rand ($7.2) per share, valuing MultiChoice at roughly $3 billion.
Canal+ currently operates in 25 African countries through 16 subsidiaries, with a base of eight million subscribers. MultiChoice, on the other hand, reaches 50 countries across sub-Saharan Africa and boasts 14.5 million subscribers. Its assets include DStv, the continent’s leading satellite television platform, and SuperSport, Africa’s top sports broadcaster.
