Canal+ is expected to unveil detailed integration plans and synergy targets in the first quarter of 2026. For now, subscription and billing arrangements remain unchanged for customers across Africa, including Tanzania.
Johannesburg. French media giant Canal+ has completed its long-anticipated $2 billion (over Sh5 trillion) takeover of South Africa’s MultiChoice Group (MCG), forming one of the world’s largest media and entertainment companies with a subscriber base of more than 40 million across nearly 70 countries in Africa, Europe, and Asia.
The transaction, finalised on 22 September 2025, followed Canal+’s mandatory cash offer of ZAR125 per share for all MultiChoice shares it did not already own.
The French broadcaster now holds effective control after securing a 46 percent direct stake, with additional shares tendered under the offer expected to increase its ownership further.
Industry analysts say the takeover marks the largest deal ever undertaken by Canal+, reinforcing Africa’s status as a key growth market for pay-TV and positioning the combined company as a formidable competitor to global streaming giants.
Regulatory hurdles cleared
The acquisition was made possible through a complex reorganisation designed to comply with South Africa’s broadcasting laws, which limit foreign ownership of local licence-holders. MultiChoice created a new entity, LicenceCo, to hold its broadcasting licence under South African control, paving the way for foreign voting restrictions on MultiChoice shares to be lifted.
The deal also won approval from the Competition Tribunal after Canal+ committed to several public-interest undertakings. These include investing in South African entertainment and sports content, and supporting small enterprises and businesses controlled by historically disadvantaged groups in the local audio-visual sector.
A new global force
Canal+ described the merger as a “transformational milestone” in its global strategy.
“Today marks an important step forward,” said Mr. Saada. “Together, we will be able to invest more in local and international content, expand digital innovation, and strengthen our position in Africa while deepening our footprint in Europe and Asia. This combination increases our ability to leverage diverse creative and sporting talent across continents.”
The merged company will employ about 17,000 people worldwide and is expected to channel greater resources into original African productions while sustaining flagship sports offerings such as English Premier League and local football rights.
To align with Canal+’s reporting cycle, MultiChoice will shift its financial year-end from March to December. Interim results for the six months ending September 2025 will be published before year-end, with nine-month audited results due in early 2026.
Canal+ is expected to unveil detailed integration plans and synergy targets in the first quarter of 2026. For now, subscription and billing arrangements remain unchanged for customers across Africa, including Tanzania.
Mr. Mawela, reflecting on the deal, described it as both a challenge and an opportunity. “This new journey brings fresh opportunities for growth, innovation, and support to our communities. Our commitment to African audiences remains as strong as ever.”
